The Big Ten Council of Presidents and Chancellors voted Sunday to award Penn State a share of the conference’s football bowl revenues from the 2014-15 season, according to a news release from the university.
The vote will provide Penn State with about $4.5 million to support student-athletes and sports programs, the release said. Money garnered from bowl games are split evenly between the conference’s 14 institutions.
Penn State was under a four-year ban, beginning in 2012, on a share of the cash as a sanction levied against the university by the conference in the wake of the Jerry Sandusky child sex abuse scandal. The university’s money was divided among the conference’s other schools during the ban and was used to aid local sex abuse organizations.
“I am obviously very pleased to report that the council agreed to provide us with our full share of the bowl revenue,” Penn State President Eric Barron said. “Obviously, it is much needed and welcome. I thank my fellow presidents.”
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The council had previously voted in February to end the restriction a year early, which meant Penn State would have another year to play without a cut of bowl revenues.
The Nittany Lions defeated Boston College in the Pinstripe Bowl in December.