Mike McQueary Will NOT Coach for Penn State on Saturday

Penn State has announced receivers coach Mike McQueary -- the man who witnessed Jerry Sandusky allegedly rape a boy in the PSU locker room in 2002 -- will NOT coach against Nebraska on Saturday ... out of fear for McQueary's safety.

The university released a statement reading, "Due to multiple threats made against assistant coach Mike McQueary, the university has decided it would be in the best interest of all for assistant coach McQueary not to be in attendance at Saturday's Nebraska game."

McQueary has been under fire for not doing anything to stop the alleged rape -- and then going to Joe Paterno instead of the police.

Important to note ... McQueary was NOT pulled from the game because officials felt he did something wrong ... he was pulled for safety reasons.