Joe Paterno Statue Removed

The statue honoring Penn State football coach Joe Paterno has been removed from in front of Beaver Stadium.

The statue was removed via forklift as 100-150 students watched, chanting, "We are Penn State."

Penn State president Rodney Erickson announced the statue will be stored in a "secured location."

Erickson released a statement saying, "I now believe that, contrary to is original intention, Coach Paterno's statue has become a source of division and an obstacle to hearing in our university and beyond. For that reason, I have decided that it is in the best interest of our university and public safety to remove the statue and store it in a secure location."

The decision came 10 days after a report conducted by former FBI director Louis J. Freeh conclude that Paterno, as well as other top Penn State administrators, had concealed the allegations of child sexual abuse made against former defensive coordinator Jerry Sandusky.

A new report by CBS Sports says the NCAA will hand down "unprecedented" penalties against the school on Monday morning.