The NCAA announced its punishment for Penn State this morning following a child sex-abuse scandal involving former assistant football coach Jerry Sandusky. Penn State faces a $60 million fine, as well as four-year postseason ban.

At a news conference at the NCAA headquarters in Indianapolis, the organization also announced that Penn State will be forced to vacate all wins from 1998-2011 and must cut 10 scholarships this year, and 20 more per year for the following four years. The punishment is one of the most severe sanctions ever handed down by the NCAA.

Speaking at the news conference, NCAA president Mark Emmert said, "No price the NCAA can levy with repair the damage inflicted by Jerry Sandusky on his victims."

In a statement read this morning, Emmert stated:

We cannot look to NCAA history to determine how to handle circumstances so disturbing, shocking and disappointing. As the individuals charged with governing college sports, we have a responsibility to act. These events should serve as a call to every single school and athletics department to take an honest look at its campus environment and eradicate the 'sports are king' mindset that can so dramatically cloud the judgment of educators.

Chuck Smrt, president of The Compliance Group, will join The Daily Circuit Monday to discuss the NCAA's decision and what it means for the future of Penn State.

Mary Jo Kane and Michael Buckner will also join the conversation.

Do you think the Penn State penalties were enough? Weigh in on The Daily Circuit Blog.

Join the discussion about the punishment for Penn State on Facebook.

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