Pac-12 Secures $65m Settlement with Departing Schools

Oregon State and Washington State have reached a settlement with the ten departing Pac-12 schools, withholding a total of $65 million from their financial distributions. The agreement, outlined in a partially redacted document, details a withholding of $5 million per school for the 2024 fiscal year, with an additional "supplemental contribution" bringing the total to $65 million. Departing members will forfeit any future revenue beyond this year.

Income from current and past NCAA basketball tournaments will remain within the Pac-12 conference, paid out over a six-year period.

In the event of the conference's shutdown before the end of the 2026 fiscal year, the remaining assets will be shared among departing and remaining schools.

However, if the conference continues beyond 2026, departing schools will not receive any asset distribution.

The settlement prohibits departing schools from attempting to dissolve the conference.

While retaining voting power until August 1, departing schools will lose this privilege. With only Oregon State and Washington State remaining in the conference for 2025, these two schools will possess full voting authority.

The Mountain West has scheduling agreements in place with the Pac-12 for upcoming seasons.

At the same time, Oregon State and Washington State will affiliate with the West Coast Conference for all sports except football and baseball over the next two years.

Oregon State University President Jayathi Murthy and Washington State University President Kirk Schulz expressed satisfaction with the settlement, affirming their commitment to maintaining competitive student-athlete programs.

Initially reached in December, the agreement follows a complaint filed by Oregon State and Washington State in September.

Departing schools include UCLA and USC, which transitioned to the Big Ten Conference, followed by Oregon and Washington. Colorado, Utah, Arizona, and Arizona State joined the Big 12, while Cal and Stanford moved to the Atlantic Coast Conference.

Oregon and Washington will receive reduced TV revenue upon joining the Big Ten, garnering $30 million in their first year compared to $60 million for other conference schools.