Joe Paterno sold house to wife in July for $1

The New York Times is reporting that former Penn State head coach Joe Paterno transferred ownership of his house to his wife, Sue, for $1 in July 2011.

The sale, occurring less than four months before the sexual abuse scandal that has rocked the Penn State football program and community, is noteworthy in that Paterno is rumored to be a target in multiple civil lawsuits as the case against Jerry Sandusky develops.   The sale will obviously shield the house as an asset owned by Paterno.

Here’s the article: