Penn State University will again be able to receive bowl revenue from the Big Ten next season.
The Big Ten released this news on Thursday which will allow the program to claim their share of bowl revenue that was previously being divided among the rest of the Big Ten schools in 2013 and 2014. Penn State donated their 2012 share to child-abuse prevention programs.
The amount of money the university would have gained during the three years is a rather large sum, $10 million. That is made up of $5 million in 2012 and 2013 to the child-abuse prevention programs and bowl revenue, and another $5 million in 2014, largely in part to their Pin Stripe Bowl victory over Boston College.
The official statement from the Big Ten:
"The Big Ten's original bowl fine was based on NCAA actions, most of which have been rescinded over the past six months. As a result, the [Council of Presidents/Chancellors] supported restoration of Penn State's bowl revenue effective with the 2015-16 academic year."
Penn State's four year bowl ban was lifted at the beginning of the 2014 season, and Joe Paterno's wins were restored at the end of the year. At the same time the vacated wins were given back, the NCAA reversed all of the sanctions against the school after they were widely seen as out of the NCAA's ability to issue them in the first place.
The president of the school, Eric Barron, also issued a statement after the announcement:
"We are grateful to the Big Ten and the Council of Presidents and Chancellors for their decision to restore Penn State's share of the Conference bowl revenues to the University in the upcoming football season. These funds will help to support our 31 teams and more than 850 student-athletes. While we are pleased with the decision, we will not waver in our commitment to prevent child abuse."
Penn State will kick off the 2015 football season September 5th at the Temple Owls.