In addition to the $60 million fine from the NCAA and the loss of $13 million from the Big Ten, Penn STate has received another financial blow to the football program.
State Farm Insurance has announced it has discontinued its sponsorship of the football programs. No amount was disclosed, but it is certain to be substantial.
A company spokes said that the decision was actually made last fall when reports of the child sex abuse scandal was made public. Former coach Jerry Sandusky was convicted of 45 counts of child abuse over a ten year period. A report from former FBI Louis Freeh detailed the cover up of four university administrators including the late Joe Paterno.
The university has not issued a statement on the State Farm decision.
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