The most significant news from Ohio State's hearing with NCAA's Committee on Infractions was the announcement that the school would forfeit its $338,811 revenue share from playing in the 2011 Sugar Bowl.
An Ohio State official told ESPN.com that the money will go to several local charities. A Big Ten spokesman said the remaining revenue the league received from the Sugar Bowl will remain with the other institutions.
I think Ohio State made a smart move by forfeiting the revenue and announcing the additional penalty on the day of its hearing. It's one thing to vacate a win, a symbolic gesture, but vacating a win from a game where you profited looks bad. While losing the money isn't a huge deal for one of the nation's richest athletic departments, it's the right thing to do and could help Ohio State in the eyes of the COI.