Penn State football’s sanctions are officially over.

The NCAA announced today that it reached a settlement agreement in the lawsuit brought by State Senator Jake Corman and Treasurer Rob McCord. The consent decree and the sanctions it imposed will be replaced with a new agreement. The 112 vacated wins will be restored and Joe Paterno once again has 409 victories in the official record books. The NCAA also agreed to keep the $60 million fine within the state of Pennsylvania to benefit victims of child sexual abuse.

Corman and McCord intially filed lawsuit against the NCAA to keep the $60 million fine within the state of Pennsylvania under the Endowment Act, but the lawsuit later expanded to successfully challenge the validity of the entire consent decree.

The NCAA’s statement on the settlement breaks down the new agreement, which replaces the consent decree, subject to board approval:

• The proposed settlement agreement with the NCAA, university and state officials, among other things, restores Penn State’s 112 vacated wins from 1998 through 2011.
• Penn State agrees to commit a total of $60 million to activities and programs for the prevention of child sexual abuse and the treatment of victims of child sexual abuse.
• Penn State acknowledges the NCAA’s legitimate and good faith interest and concern regarding the Jerry Sandusky matter.
• Penn State and the NCAA will enter into a new Athletics Integrity Agreement that (with concurrence of the Big Ten) includes best practices with which the university is committed to comply and that provides for the university to continue to retain the services of Sen. George Mitchell and his firm to support the university’s activities under the Athletics Integrity Agreement and in the areas of compliance, ethics and integrity.

“I am pleased to learn that financial resources to help child sexual abuse survivors will soon become available,” said Sen. George J. Mitchell, who serves as Penn State’s Athletics Integrity Monitor.  “I remain impressed with Penn State’s progress to date and look forward to its many reforms and improvements continuing to take root.”

Mitchell will continue in his role outlined as part of the consent decree within the new agreement, partaking in oversight of athletics integrity at the university.

“Continuing this litigation would further delay the distribution of funds to child sexual abuse survivors for years, undermining the very intent of the fine,” said Harris Pastides, University of South Carolina president and member of the NCAA Board of Governors. “While others will focus on the return of wins, our top priority is on protecting, educating and nurturing young people.”

The NCAA says it still plans to fight the lawsuit brought by the Paterno family. Corman will be speaking shortly at a press conference in Harrisburg.