BREAKING: CBS Report: NCAA to penalize PSU Monday (UPDATED W/Paterno Statement On Statue And No Penn State Appeal...?))

((ht: cbsnews))

We don't know a lot of details, but it appears the NCAA has set an official record for fastest investigation of a school.

CBS News (former Sports) reporter Armen Keteyian reports that NCAA Prez Mark Emmert will announce "Unprecedented" penalties against the school at a Monday morning press conference.

Read that story RIGHT HERE

Again, details are thin, but the NCAA has been looking into Penn State's behavior surrounding what happened with convicted child molester and former assistant Jerry Sandusky. Many have suggested the death penalty, even more suspending the team.

All of that right now, is just speculation.

NCAA President Mark Emmert and the chairman of the executive committee, Ed Ray, will make the announcement Monday morning at 9AM. ESPN's Adam Rittenberg has been told that the sanctions are not yet a joint agreement between the school and the NCAA.

And, surprising no one, whatever comes down from Indianapolis will hit State College pretty hard...


Stay tuned, we are guessing a lot more information is coming...soon.

1030 UPDATE: Via Joe Schad and his Twitter, early returns have Penn State losing bowl appearances and scholarships...

That's most certainly, a weak response if true...

1100 UPDATE: "significant loss of scholarships and loss of multiple bowls" are the words now being used... and also the idea that the loss is so severe that the "death penalty" would have been preferable by comparison.

The Paterno family has released a statement regarding the removal of the statue, thanks to pennlive.com:

Here's the first paragraph...

Tearing down the statue of Joe Paterno does not serve the victims of Jerry Sandusky's horrible crimes or help heal the Penn State Community. We believe the only way to help the victims is to uncover the full truth. The Freeh report, though it has been accepted by the media as the definitive conclusion on the Sandusky scandal, is the equivalent of an indictment — a charging document written by a prosecutor — and an incomplete and unofficial one at that.

1300 UPDATE: Through David Jones of the Harrisburg Patriot-News and his Twitter feed:

Penn State will NOT appeal the NCAA's decision, I've been told. Speed of decision and lack of contention points to a deal betw NCAA and PSU.

1445 UPDATE: Charles Robinson over at Yahoo!Sports is using the adjectives "significant" and "staggering" when describing the penalties that are anticipated from NCAA President Mark Emmert...

Robinson says that Emmert is "personally sanctioning" Penn State at the defense of the NCAA itself- a first by the institution. And Robinson has early feedback that the sentence will include "crippling" scholarship losses and a "multiple-year" bowl ban.

Thus, the idea that Penn State might want to take the "death penalty" option over the multiple enforcements.