Amid the ongoing Pac-12 media deal debacle, 8 teams in conference will get $32.25 million in 2024: Reports
No conference has felt the effects of conference realignment more than the Pac-12, which has been decimated due to its inability to land a long-term media rights deal. Eight of the 12 schools have announced that they will leave the conference following the 2023 season.
Former Fox Sports Network President Bob Thompson revealed how the conference may have put the nail in their own coffin with unreasonable demands. After the UCLA Bruins and USC Trojans announced their plans to leave the conference last summer, the conference received a media rights offer from ESPN that would have paid the 10 remaining schools $30 million per year.
Thompson advised conference officials to take the deal, estimating that they were receiving fair value without the Bruins and Trojans.
Instead, however, the Pac-12 held out hope for a deal that paid the schools $50 million per year. That never happened, leading to a mass exodus in which an additional six schools have announced their departure. Furthermore, the California Bears and Stanford Cardinal appear destined for the Atlantic Coast Conference.
Thompson tweeted an update on the financials received by the eight schools, excluding UCLA and USC, that are on their way out, or could be in the case of California and Stanford:
"For those keeping score at home...ESPN has added $156m in annual payments while Fox has added $102m in annual payments to each retain 6 of the remaining Pac-12 schools. Grand total paid for 8 remaining Pac schools: $258m or $32.25m per school. TBD is OSU/WSU nut."
Check out Bob Thompson's tweet here.
While the television networks and departing programs have both made out well, the Pac-12 appears to be entering its final stages after overplaying its hand. The conference is now in scramble mode as it looks to fight off falling apart altogether.
How has conference realignment affected the Pac-12?
In June 2022, the UCLA Bruins and USC Trojans announced that they would be leaving the Pac-12 for the Big Ten ahead of the 2024 season. Despite this, conference officials had the opportunity to keep the remaining 10 programs. Instead, however, their inability to secure a long-term media rights deal has led to a mass exodus.
The Colorado Buffaloes were the next to jump ship, as in late July they announced their plans to join the Big 12 in 2024. A week later, the Oregon Ducks and Washington Huskies shared that they would join the Big Ten. On the same day, the Arizona Wildcats, Arizona State Sun Devils and Utah Utes announced they will join the Big 12.
Furthermore, the California Bears and Stanford Cardinal appear to be in deep talks to join the ACC. It is unclear where the Oregon State Beavers and Washington State Cougars will wind up.