Rene Portland will apparently hold a press conference in just a couple hours.

Some early hints from the Happy Valley suggest that this will be a "slap on the wrist" announcement rather than anything like a resignation.

UPDATE: here is the University press release. It is, as rumored, a slap on the wrist.

PSU's internal investigation found that Coach Portland did indeed violate the school's antidiscrimination policy.

The report ... conclude[d] that enough evidence existed to substantiate a claim that Portland discriminated against Harris by creating a “hostile, intimidating, and offensive environment” because of Harris' sexual orientation. This is in violation of Penn State Policy AD-42, which prohibits discrimination and harassment on the basis of race, sexual orientation, and other personal characteristics.

But the sanctions ordered are mild. Very mild. They include:

(1) A letter of reprimand (strongly worded, I'm sure).
(2) A warning that future violations will not be tolerated (and this time we really, really mean it).
(3) Diversity training (insert rolling-eyes emoticon here).
(4) A $10,000 fine.

The PSU Affirmative Action office had recommended a one-game suspension, but President Spanier rejected that in favor of the fine, purportedly because it's "more immediate." (Coach Portland, who lights cigars with $100 bills at her summer home in the Poconos, is probably giggling about that.)

Coach Portland issued a statement in which she denied the allegations and claimed that the school's process was "flawed."