Penn State Sets Aside Another $12 Million for NCAA Fine
Penn State University has set aside its second installment of a $60 million fine owed to the NCAA as part of sanctions related to the Jerry Sandusky child abuse scandal.
University spokesman Dave La Torre confirmed Thursday that the university earmarked another $12 million for the fine. So far, the university has a total of $24 million saved.
Penn State's fine, which will be distributed to charities and programs that aid victims of sexual abuse, was one of the penalties levied against the university when Penn State entered into a consent decree with the NCAA.
Penn State paid the first $12 million installment into an escrow fund in December 2012.
State Sen. Jake Corman sponsored legislation requiring the funds be spent in Pennsylvania. Gov. Tom Corbett signed the bill into law. The NCAA says the legislation is unconstitutional and filed a lawsuit against Corbett and the Commonwealth of Pennsylvania.
The NCAA said last year it would not dole out any of the funds until the matter is settled in court.
Penn State has now spent nearly $64 million on the NCAA fine, legal fees and other expenses related to the Sandusky scandal. Additionally, the university reached a settlement with 26 of Sandusky’s victims for a total of $59.7 million.
Sandusky, the former defensive coordinator for Penn State, was convicted in 2012 on 45 counts of child sex abuse. He is currently serving a 30 to 60 year sentence.