INDIANAPOLIS  — The NCAA slammed Penn State for the Jerry Sandusky sex abuse scandal Monday with an unprecedented series of penalties, including a $60 million fine and the loss of all the school’s victories from 1998-2011, knocking Joe Paterno from his spot as major college football’s winningest coach.

Other sanctions include a four-year ban on postseason games that will prevent Penn State from playing for the Big Ten title, the loss of 20 scholarships per year over four years and five years’ probation. The NCAA also said that any current or incoming football players are free to immediately transfer and compete at another school.

NCAA President Mark Emmert announced the staggering sanctions at a news conference in Indianapolis.

Penn State Takes Down Famed Joe Paterno Statue

STATE COLLEGE, Pa. — The famed statue of Joe Paterno was taken down from outside the Penn State football stadium Sunday, eliminating a key piece of the iconography surrounding the once-sainted football coach accused of burying child sex abuse allegations against a retired assistant.

Workers lifted the 7-foot-tall statue off its base and used a forklift to move it into Beaver Stadium as the 100 to 150 students watching chanted, “We are Penn State.”

The university announced earlier Sunday that it was taking down the monument in the wake of an investigative report that found the late coach and three other top Penn State administrators concealed sex abuse claims against retired assistant coach Jerry Sandusky.