Here's a handy .pdf of the Notice of Allegations delivered to Ohio State on Friday by the NCAA, via friend of the program Andy Staples. Student names have been redacted, but it's not at all difficult to suss out who's who. The allegations themselves are nothing new -- players had an inappropriate relationship with tattoo shop proprietor Edward Rife, sold memorabilia, and received discounted tattoos, and Jim Tressel knew all about it and participated in a passive coverup. It's the charges leveled at Tressel directly that provide the juice:

Jim Tressel, head football coach, knew or should have known that at least two football student-athletes received preferential treatment ... but he failed to report the information to athletics administrators and, as a result, permitted football student-athletes to participate in intercollegiate athletics competition while ineligible.
[...]
It was reported that Jim Tressel, head football coach, failed to deport himself in accordance with the honesty and integrity normally associated with the conduct and administration of intercollegiate athletics as required by NCAA legislation and violated ethical-conduct legislation.

The list of requested documents the NCAA wants on hand as part of the university's response is a fun one. Highlights of a lengthy list include a statement "describing Rife's relationship to the institution and its intercollegiate athletics program," another one for Ted Sarniak, figures totaling what the Buckeyes stand to make from the Big Ten network and other television deals, and a copy of Ohio State's protocol for reporting of violations, which we're sure Jim Tressel will manage to lose between now and August.