Penn State released a statement on the NCAA’s vote to grant its power five conferences autonomy, saying it fully supports the move that grants it a litany of new powers.

If you aren’t up to date on the vote, it means that schools in the Big Ten, SEC, ACC, Pac-12 and Big 12 can “write many of their own rules,” as ESPN explains. It’s also a win for the players, as the schools can now make their own decisions regarding cost-of-attendance stipends, insurance benefits for players, staff sizes, recruiting rules, and mandatory hours spent on certain sports, according to ESPN (Ivan Maisel has a good explanation of what it all means here). The schools will introduce their own legislation, to be reviewed by a board of the 65 schools and 15 player representatives.

Things not affected by the new autonomy are the postseason, transfer policies, scholarship limits, signing day and rules about on-field play.

Here is Penn State’s statement in full regarding the new freedom:

“We at Penn State fully support the governance structure and autonomy provisions passed this week by the NCAA Division I Board of Directors.

At the core of the decision is the ability to provide optimal care and enhanced opportunities for student-athlete success in the classroom and on the field of play. Anything that puts students first is to be applauded. Like many things in college athletics, there will be costs associated with change. It will require that we exhibit extreme discipline and establish a prioritization based on our values. All of this will be healthy for the enterprise, both at Penn State and nationally, and good for our student-athletes.”