I just turned on First Take and they're talking about this right now. They laid down the HAMMER, gotdamn. Vacated wins, $60M sanction, banned from bowl games for four years, loss of 20 scholarships/year for 4 years, and the athletes are free to transfer. Some of the top prospects are already decommitting.
The irony: Paterno's last win on record (in 1997) is with Mike McQueary as the starting quarterback, who was the main whistleblower on the whole scandal.