The Penn State Board of Trustees met at 5 p.m. today at the Penn Stater Conference Center Hotel to discuss Penn State President Rodney Erickson's acceptance of the sanctions placed on the university by the National Collegiate Athletic Association.
According to a statement released after the meeting, the board has resolved "to move forward together to recognize the historical excellence in Penn State's academic and athletic programs."
The board did not vote on any issues.
"The Board finds the punitive sanctions difficult and the process with the NCAA unfortunate," according to the statement. "But as we understand it, the alternatives were worse as confirmed by NCAA President Mark Emmert's recent statement that Penn State was likely facing a multi-year death sentence."
According to Standing Order IX, the President is entrusted by the board to make decisions, pending the board's approval.
The meeting was closed, and media was forced to vacate the area surrounding conference room 107 -- where the board was in session -- about 40 minutes into the meeting by conference center staff.
The NCAA's sanctions, which included a four-year bowl ban, $60 million fine, four-year loss of scholarships and vacation of wins from 1998-2011, came after the findings of the report released by former FBI director, Louis Freeh on July 12.
The Freeh investigators released a corrective document that laid out errors made in the findings today.
The Freeh Group was hired by the Penn State Board of Trustees in November to examine the university's structure, policies and approach to handling reports involving former assistant football coach, Jerry Sandusky.
Sandusky was convicted on 45 counts of child sex abuse on June 22.