The problem is that the institution engaged in wrongdoing. If someone brings a civil rights or discrimination case against a corporation, they can fire all the wrongdoers, that does not get them off the hook at all. The eventual judgement is the same.
This is similar. The institution, in the person of it's leaders and coaches, knew about the criminality and not only allowed it to continue, but covered it up. The logic to be applied is that the institution BENEFITED from the coverup in the form of fan attendance, revenue, and recruiting. Once the scandal came to light, the popularity and prestige of the school would be diminished, so they covered it up for financial reasons, as well as school "loyalty".
There will be severe sanctions. The players will be allowed to transfer without sitting out - they are victims, not perpetrators. The coach will be released from his contract without penalty if he chooses to move on.
As far as local business, that is NOT the NCAA's concern. Not at all. Although one could reason that they also benefited from the cover up, as their revenues would have been reduced years ago if the scandal broke then.
There will be an announcement tomorrow. I expect a death penalty of one to five years to be put into effect, and it may cover all sports.