Penn State to Pay Sandusky Victims $59.7M

Penn State says it is paying $59.7 million to 26 young men over claims of child sexual abuse at the hands of former assistant football coach Jerry Sandusky. The university made the announcement today, and says it has concluded negotiations that have lasted about a year. The school says 23 deals are fully signed and three are agreements in principle. The school faces six other claims, and says some don't have merit but others may produce settlements.

The university said on the day last year that Sandusky was convicted of 45 criminal counts it was determined to compensate his victims. Sandusky maintains his innocence and is seeking a new trial while he serves a 30- to 60-year state prison sentence. The university's disclosure comes after some of the attorneys involved had confirmed they settled. (More Jerry Sandusky stories.)