Penn State's football team was spared the death penalty Sunday, but the university was fined $60 million and the school's legendary former coach Joe Paterno lost his record of being the winninest coach and the 13 year straight of wins, according to NCAA.

Here's what Ed Ray the chair of the NCAA's executive committee had to say about the announcement:

The historically unprecedented actions by the NCAA are warranted by the conspiracy of silence maintained at highest level of the university with reckless and callous disregard for children."

It looks the football program will also be punished by being excluded from playing in bowl games and post-season games for four years, as well as having its football scholarships reduced from 25 to 15, and having to pay a $60 million fine, the equivalent of one year's revenues from the football program. The money will go to creating child sex abuse awareness programs around the country.