As a college football fan, this scandal is about as bad as it gets. The previously pristine reputation of Joe Paterno and Penn State has been shattered and it's unlikely to be cleaned up for years due to ongoing legal action. Besides a major hit to the reputation of Penn State, the university is going to take a financial hit as well. The lawsuits will be very expensive, donors will surely stay away and now, even the advertisers are pulling back.
The Wall Street Journal reported on Sunday that no less than six advertisers have pulled their commercials from upcoming Penn State football broadcasts on ESPN.
"I have multiple advertisers pulling ads from the ESPN broadcast," one media buyer told the Journal. "I am advising my clients to move out of games for the short term," another buyer added.
The Journal's report followed an announcement on Friday that Cars.com would pull its commercials from the school's upcoming games.
