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The NCAA said the $60 million represented the average annual gross revenue of the football program. The money will go toward outside programs devoted to preventing child sexual abuse or assisting victims.
The Big Ten also announced that Penn State would not be allowed to share in the conference's bowl revenue during the postseason ban, an estimated loss of about $13 million.
At Penn State, the men's basketball team had profits of nearly $5 million in 2010-11, according to the Department of Education report. Teams other than football and men's basketball had about $23 million in expenses, and the athletic department spent another $36.5 million on expenses not allocated to a particular sport. Football cost $19.5 million.
Of course, football revenue could lag if the team struggles badly on the field as a result of the sanctions, and ticket sales decrease.
The university said earlier this month that its fundraising was strong over the past year despite the scandal. Penn State received more than $208 million in donations for the fiscal year that just ended, the second-highest total in school history.
[Associated
Press;
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