Watch NCAA Penn State announcement LIVE

The NCAA will hold a news conference this morning at 8 a.m. to announce sanctions against Penn State.

According to sources, the school is expected to be hit with fines in excess of $30 million. However, Penn State will not face the so-called "death penalty" that would have prevented the football team from playing in the fall.

The punishment is part of the fallout from how the university handled former assistant football coach Jerry Sandusky.

He was convicted last month of sexually abusing 10 boys.

Watch the news conference live on our website at 8 a.m. Click here for the live stream.