The NCAA has come down with a punishment for Penn State after the Jerry Sandusky scandal and coverup, and the penalties are severe.

Penn State is facing some major punishment from the NCAA. The removal of Joe paterno's statue over the weekend was only the beginning of what is the dismantling of a legacy.

The first thing handed down is that Penn State will have to pay a $60 million dollar fine. All that money go to a charity to benefit children who have been molested. The also face a four year bowl ban, and a reduction in scholarships from 20, to 15.

Penn State athletes will also be able to transfer to other schools, and begin playing for them immediately.

Perhaps the biggest blow to the school, and Joe Paterno, is that they will have to vacate all wins from 1998-2012. That would now make Bobby Bowden the college football coach with the most wins.

[Via ESPN]