The NCAA has fined Pennsylvania State University $60 million, vacated more than a decade of the football team's victories, and suspended the team from postseason bowl play for four years.  Repercussions for the school could ripple far into the future.

There are plenty of potential financial impacts beyond the fine, says Scott Rosner, a sports business professor at the Wharton School at the University of Pennsylvania.  Initially he expects football ticket sales will be okay, as Penn State grads and students rally around the school.

"However I would think in the long term you're going to see a negative impact on the institution in terms of ticket sales, in terms of merchandise sales, in terms of all these sponsorship dollars," said Rosner.  "And that is certainly going to impact them for a prolonged period of time."

John Lord is professor and Director of Sports Marketing at the School of Business at Saint Joseph's University. Lord said the team's suspension from postseason bowl play for four years, represents a penalty for the players, the fans, the coaching staff and even the band.   

"But unless you go to a BCS bowl game, chances are you're not making any money anyway by the time you pay all the expenses and have to sell the required number of tickets that the bowl games make you sell," said Lord.  "So I don't think the loss of the bowl games will be a direct financial hit but it certainly is a hit in terms of creating a destination for the players and a reason to be playing football at Penn State."

Wharton's Scott Rosner said he thinks Penn State will still draw in-state students, but others who would be most attracted by the football program may question now the choice.

"If I am a high school student athlete I'd have to think very long and hard about going to Penn State simply from the perspective that when you're picking the school there's no chance you're going to win a championship for your first three years at the school.

Rosner said the impact on the local economy could be significant.  As fewer people travel to the games, hotel rooms could stand empty and restaurants could see a down-turn in business.