Truthfully, regardless of the sanctions put on the school, there is now an entire generation of people that associates the name Penn State to one of the most disgusting/despicable scandals in the history of the world. Sanctions or not, it's going to take a very long time before people hear the name Penn State and not think of what went on despite the record of any sports team out of Happy Valley. This is a punishment that goes much further than any sanctions for athletics.
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Felix Unger talking to Oscar Madison: "Your horse could finish third by 20 lengths and they still pay you? And you have been losing money for all these years?!"
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