Gene J. Puskar / AP

Penn State football coach Joe Paterno, left, and his wife, Susan, stand on their porch to thank supporters gathered outside their home. Nov. 9, 2011, in State College, Pa.

Reuters reports:

STATE COLLEGE, Pa — "I am disappointed with the Board of Trustees' decision, but I have to accept it," the legendary coach said in a statement. "A tragedy occurred, and we all have to have patience to let the legal process proceed."

Paterno thanked all the Penn State fans, supporters, players, coaches and staff.

"Everyone should remain calm and please respect the university, its property and all that we value," he said.

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