As workers moved the statues, 100 to 150 students watched, some chanting, "We are Penn State."

The decision came 10 days after a scathing report by former FBI director Louis J. Freeh found that Paterno, with three other top Penn State administrators, had concealed allegations of child sexual abuse made against former defensive coordinator Jerry Sandusky. The Freeh report concluded their motive was to shield the university and its football program from negative publicity.

Meanwhile, on Monday, the NCAA hit Penn State with a $60 million sanction, a four-year football postseason ban and a vacation of all wins dating to 1998.

Paterno's career record will reflect these vacated records, the NCAA said.

Penn State must also reduce 10 initial and 20 total scholarships each year for a four-year period.

The Paterno family issued a statement only hours later saying the statue's removal "does not serve the victims of Jerry Sandusky's horrible crimes or help heal the Penn State community."

"We believe the only way to help the victims is to uncover the full truth," said the family, which vowed its own investigation following the release of the Freeh report. The family called the report "the equivalent of an indictment -- a charging document written by a prosecutor -- and an incomplete and unofficial one at that."

A Paterno family spokesman told ESPN.com that Penn State has not been in communication with them about the statue's removal.

Paterno's widow, Sue, and two of the Paternos' children visited the statue Friday as students and fans lined up to get their pictures taken with the landmark. The statue was built in 2001 in honor of Paterno's record-setting 324th Division I coaching victory and his "contributions to the university."

Erickson's decision to remove the statue but keep the Paterno name on the library appears to be the product of compromise. Keeping his name on the library does not entirely disconnect Penn State from Paterno's contributions -- from the millions of dollars he donated to his 61-year coaching career to the university's academic life.

Erickson said in recent days he had heard "many differing opinions" about the fate of the Paterno statue and the best way to "memorialize such a revered figure."

"I now believe that, contrary to is original intention, Coach Paterno's statue has become a source of division and an obstacle to healing in our university and beyond," Erickson said in his 592-word statement. "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."

If the statue of Paterno, his right index finger raised in a No. 1 salute, had remained in its current location, Erickson said he believed it would "be a recurring wound to the multitude of individuals across the nation and beyond who have been the victims of child abuse."

Erickson's announcement came exactly six months after Paterno died.

Erickson acknowledged that his decision is bound to be an unpopular one in central Pennsylvania.

"I fully realize that my decision will not be popular in some Penn State circles, but I am certain it is the right and principled decision," he said.

White House press secretary Jay Carney told Washington reporters that President Barack Obama believed "it was the right decision" for the university to remove the monument.

Erickson did not say where the statue would be kept. He also did not say whether it would be later placed in a public place for viewing or placed into storage. Trustees over the past two days who have spoken with Erickson said two possible locations have been discussed: the Penn State sports museum and the library, which still bears the Paterno family name.

Erickson's decision comes at an especially sensitive time for the university. Trustees and administrators are the subject of an NCAA investigation, and several trustees have said that if the statue remained it could weigh as a negative symbol in the NCAA's discussions on a punishment for the football program.

Last week, trustees told each other in private conversations that the Paterno statue had become a negative symbol for the university that inevitably would have to be removed.

In many of those conversations, trustees and university officials said they hoped that if the statue would be removed, it would send a positive message to the NCAA that Penn State was "moving forward" past its symbolic embrace of Paterno.

But within one hour of the statue being removed Sunday morning the NCAA released its statement, at 9 a.m. ET.