The school announced Monday morning, they've reached settlements with 26 of the 32 people who made sexual abuse allegations against former Assistant Football coach Jerry Sandusky. Payments for those settlements according to the school--$59.7 million.
Penn State was quick to make clear the money would not come from tuition, taxpayer funds or donations, but rather a variety of insurance policies and other self-sufficient sources.
From the school's press release: "The Board of Trustees has had as one of its primary objectives to reach settlements in a way that is fair and respects the privacy of the individuals involved,” said Keith Masser, chair of the Board of Trustees. "This is another important milestone in accomplishing that goal. I would like to thank the board’s Legal and Compliance Committee, as well as its Legal Subcommittee for its leadership throughout this process.”
University President Rodney Erickson added; “We hope this is another step forward in the healing process for those hurt by Mr. Sandusky, and another step forward for Penn State. We cannot undo what has been done, but we can and must do everything possible to learn from this and ensure it never happens again at Penn State.”
Per multiple reports, part of the agreement has a confidentiality clause in it. That clause would not allow the victims or family members to disclose how much they received from the school.
Read more from PennLive.com RIGHT HERE
In many ways, this ties up most of the loose ends in the 2009/10/11 case that saw the Nittany Lions former defensive coordinator arrested and charged with multiple cases of child sexual molestation, publicly humiliating the school and many of it's legends. Sandusky is in jail, where it appears he'll be for a very long time, the school administrators involved are no longer with the school.
No doubt the people of Happy Valley will be happy the saga has almost ended. The only curveball would be if Sandusky appeals his sentence.