Penn State still has a football program, but after the NCAA announced its sanctions (just minutes ago), I wouldn't expect them to contend or be any good for the next decade or two. A brief summary of those sanctions are below. 

• $60M fine.

• 4-year football postseason ban.

• PSU will vacate all wins from 1998 to 2011.

• Scholarships will be reduced from 25 to 15 for the next four years.

• Any student-athlete can transfer and play immediately or athletes can choose to stay at PSU and keep scholarship (without playing).

• The University Athletic program is on a 5-year probation. 

In case you didn't catch it, vacating all those wins means that Bobby Bowden is now college football's most winningest coach. Thoughts? Reaction? Discuss in the comments.