For Big-Budget Penn State, Fine Not as Big as Seems
The $60-million fine levied on Penn State by the NCAA doesn't look so big next to the scale of the athletic department's finances.
Penn State plans to pay the fine, part of sanctions announced Monday over the child sexual abuse scandal, in five annual installments of $12-million. According to data released Tuesday by the U.S. Department of Education, the Penn State athletic department had more than $116-million in revenue to more than $84-million in expenses for the 2010-11 school year.
The expenses don't include debt service or capital expenditures. Penn State won't be able to save money by making cuts in other sports. The NCAA specifically prohibited that as part of the punishment.