Penn State coach Bill O'Brien says he'll stay at Penn State despite sanctions

New Penn State head football coach Bill O'Brien is announced to the crowd, with his 6-year-old son Michael, during a timeout at the Penn State Nittany Lions men's basketball game as they take on the Indiana Hoosiers at the Bryce Jordan Center on January 8, 2012 in State College, Pennsylvania. Photo by Patrick Smith/Getty Images

(CBS/AP) INDIANAPOLIS - New Penn State coach Bill O'Brien says he's committed to the school despite the harsh sanctions imposed Monday by the NCAA, including a four-year postseason ban and a big loss in scholarships.

In a statement released by the school, O'Brien said, "I knew when I accepted the position that there would be tough times ahead. But I am committed for the long term to Penn State and our student athletes."

School President Rodney Erickson says Penn State accepts the penalties. He says the NCAA sanctions will help the school "define our course."

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Penn State football players react to sanctions

It remains to be seen how some current Penn State players and recruits will respond to the sanctions. NCAA president Mark Emmert said that they would immediately be allowed to transfer without sitting out a year. One coach told CBSSports.com last week that Penn State recruits were already calling him trying to gauge interest in their talents.

After the sanctions were announced, tackle Nate Cadogan tweeted: "Psu vs the world!!! Day 1."

Senior linebacker Kyle Lucas summed up his feelings on Twitter with one word: "Wow."

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