Where does $60 Million Go?

[All4SU]

Does it sit in an NCAA account? It certainly doesn't go to the victims. They have their own settlements in the works. I understand the concept of levying a fine. I just don't understand how an organization like the NCAA administrates it.

 

[Guinness]

The NCAA imposes a $60 million fine, equivalent to the approximate average of one year's gross revenues from the Penn State football program, to be paid over a five-year period beginning in 2012 into an endowment for programs preventing child sexual abuse and/or assisting the victims of child sexual abuse. The minimum annual payment will be $12 million until the $60 million is paid. The proceeds of this fine may not be used to fund programs at the University. No current sponsored athletic team may be reduced or eliminated in order to fund this fine.

 

[All4SU]

Good. Thanks. So safe to assume it won't be going to The Second Mile?

 

[All4SU]

PSU should hire someone from the outside (at their own expense) to administer those funds where they can do the most good. It should not be someone in the PSU culture. We all know there are great charities out there who do fantastic work. There also are some that are worthless. I would hate to see the money get pissed away making posters that say, "Don't shower with kids."