Two remaining PAC-12 schools will split $65 Million
Washington State and Oregon State settle with schools exiting Pac-12
Two remaining PAC-12 schools, the Cougars and the Beavers, will split $65 Million. The legal battle over the future of the Pac-12 conference has officially come to an end with the settlement reached by its departing 10 members. Oregon State and Washington State will receive a combined sum of $65 million in 2024 from the fiscal distributions of the members who are leaving. This amount includes withheld ($5 million) and supplemental ($1.5 million) revenue, with apportioned distributions going through June.
Jayathi Murthy on Twitter: “A step forward for the Pac-12 Conference. pic.twitter.com/H6ZjaKMRQq / Twitter”
A step forward for the Pac-12 Conference. pic.twitter.com/H6ZjaKMRQq
No Involvement Going Forward
The settlement outlines that the universities departing from the Pac-12 conference will have no say in how the conference uses, allocates, or spends the funds after they have left. Consequently, this means that Oregon State and Washington State are free to distribute the funds as they see fit. This is great news for the remaining Pac-12 schools as they navigate an uncertain future. Additionally, the departing members cannot try to dissolve the Pac-12 conference. That is unless both Oregon State and Washington State agree in writing. If a departing member attempts to dissolve the conference, the remaining Pac-12 schools have the right to seek an injunction with severe financial penalties for such an action.
Additionally, any revenue generated during and after 2025 will not be entitled to the departing members. All schools leaving are scheduled to join their new conferences by July 2024.