The NCAA will be having a press conference Monday, July 23, at 9 a.m. ET to address Penn State and its possible punishment for the Jerry Sandusky cover-up scandal.

UPDATE: Sunday, July 22, at 6:44 p.m. ET by Richard Langford

Details about these upcoming sanctions continue to be leaked out. The latest comes from CBS Sports' Jerry Hinnen, who reports that sources told CBS' Brett McMurphy that the NCAA will fine Penn State between $30 and $60 million, which would go towards the endowment for children's causes.

It probably goes without saying that this fine would be unprecedented in the world of the NCAA.

UPDATE: Sunday, July 22, 1:10 p.m. ET by Donald Wood

With news that the NCAA would announce punishments against Penn State University on Monday, reports have swirled about what the penalty will be.

Whatever the NCAA’s punishment is, it appears PSU has struck a deal and will accept its fate.

The Harrisburg Patriot-News' columnist David Jones is reporting on Twitter about the likelihood that Penn State will not appeal the punishment:

Penn State will NOT appeal the NCAA's decision, I've been told. Speed of decision and lack of contention points to a deal betw NCAA and PSU.

— David Jones (@djoneshoop) July 22, 2012

Most have speculated that the penalties will not be the “death penalty," but instead, a mass punishment of bowl restrictions and scholarship losses.

While both would hurt the school immensely, the death penalty to a program the magnitude of the Nittany Lions' would hurt the school and the local economy.

That’s not what the NCAA wants to do.

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UPDATE: Sunday, July 22, 10:20 a.m. ET by Donald Wood

While there has been much speculation about the NCAA possibly handing down the death penalty to Penn State’s football program, the actual content of the Monday announcement may be something a bit different.

But just as damning.

ESPN’s Joe Schad addresses the perception of the death penalty and the direction the NCAA will lean with its punishments for PSU:

Mark Emmert was granted authority to punish PSU in unprecedented manner by NCAA Board and Committee

— Joe Schad (@schadjoe) July 22, 2012

Thee sanctions were not self-imposed or negotiated. This is Emmert taking a stand he felt he had to due to horrors in Freeh Report.

— Joe Schad (@schadjoe) July 22, 2012

Penn State sanctions expected to be extremely harsh and could even be perceived as more damaging long-term than "death penalty"

— Joe Schad (@schadjoe) July 22, 2012

Penn State facing loss of bowl/s and scholarships, but not so-called death penalty

— Joe Schad (@schadjoe) July 22, 2012

The Monday press conference will be huge for the Nittany Lions because their future hangs in the balance. The school is already suffering from the PR mess the whole situation has caused, but the punishments to the football program will hit the school even harder.

Penn State is in a bad position.

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The official Twitter page for the NCAA announced the press conference:

NCAA to hold press conference on #PennState Monday at 9 a.m. ET. Live coverage from this feed & web stream link avail tmrw.

— Inside the NCAA (@InsidetheNCAA) July 22, 2012

As for the actual punishments, CBS News is reporting about the possible penalties coming down Monday from the NCAA:

CBS News has learned that the NCAA will announce what a high-ranking association source called "unprecedented" penalties against both the Penn State University football team and the school.

"I've never seen anything like it," the source told correspondent Armen Keteyian.

While there was no question that the NCAA would act, how much jurisdiction the governing body would have over this situation was unclear. If the reports are correct, there will be serious ramifications coming to the Nittany Lions Monday.

We could be talking death penalty.

While there is talk of the football program being shut down for a season, some analysts believe that there wasn’t a deep enough investigation by the NCAA or proper work done to give the program the death penalty.

Whatever the actual punishments are, the fact that they have been characterized as "unprecedented" should have all of college football taking notice. This will undoubtedly fall under "lack of institutional control," and the precedent this sets will have much deeper implications than just Penn State.

For the current Nittany Lions football team, there have to be serious worries about what their future holds. They are already putting in the work for the 2012 season and now have to worry about sanctions being handed down to their school; that’s unfair.

What’s Next?

Jeff Swensen/Getty Images

For the people associated with Penn State, the students that have called that school home and the fans that have bled for the Nittany Lions for decades, the sadness associated with the last year has been taken to another level.

With the removal of Joe Paterno’s statue Sunday, the fear of what the NCAA could say Monday has the already-shaken Penn State faithful terrified.

What the general public can’t forget is that Penn State is a great school for education, and the actions of a few people in power should not hurt everyone else committed to PSU.

Check back for more on the NCAA football as it comes and don’t miss Bleacher Report’s college football page to get your fill of college football.

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