Report: PSU to settle claims for $60 million

Penn State is getting closer to settling the legal claims made by the alleged victims of former assistant coach Jerry Sandusky.

The Wall Street Journal reports that Penn State's board of trustees has authorized approximately $60 million in payments to the men who say they were abused by Sandusky. Sources tell the newspaper that Penn State has agreements in principle to settle about 25 of the approximately 30 claims brought against the university. Penn State on Friday announced it had reached tentative settlements but didn't provide specifics on how many cases had been settled or dollar amounts.

Sandusky, Penn State's longtime defensive coordinator under Joe Paterno, is serving 30-60 years in prison after being convicted last summer on 45 counts of child sexual abuse.

From the WSJ:

The university has reached agreements in principle to settle about 25 out of some 30 claims, and settlements are expected to be finalized within the next month, the people said. It is unclear what will happen to the remaining claims, including at least one in which the plaintiff has filed a civil lawsuit against the university.

Attorneys for the men have declined to say how much money they were individually seeking, but people familiar with the process said amounts would vary and be determined in part by the nature of the abuse, whether it occurred on Penn State's campus and over what length of time.

The university doesn't plan to comment on the settlements until all are final, which could be happening soon.