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RUMOR: Possible Oregon Sanctions (UPDATED)

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We all love rumors. Especially rumors about our feathered friends of CGB North. Here are the latest rumors regarding Oregon and the sanctions which they may receive.

Please keep in mind these are just rumors. Take them with a tablespoon of salt -- if you wish. Or you can believe these rumors and pray that they come true like I will be doing! Actually, just do the latter. It's more fun that way. These come from ESPN's Chris Larsen:

and....

What do you guys think of these possible sanctions? Not harsh enough or definitely not harsh enough?

The scholarship reduction would seemingly hurt them big time over the next four to five years (hopefully). The two year bowl ban would suck for them too since they're a team that does go bowling and have been going bowling to pretty good bowls.

Would Chip Kelly leave the Ducks if they were hit with sanctions? Would he get fired? Would he go to the NFL just like Cheat Carroll of USC? Updated with further information after the jump.

UPDATE #1

Rich Cirminiello of CollegeFootballNews.com is now joining in on the action:

and...

Ruh roh! "Key current players under investigation" too? If they are deemed to be ineligible by the NCAA, would that mean Oregon would have wins redacted? Maybe.