The legal fight playing out as the Pac-12 dissolves is reportedly costing conference members their share of $61 million in withheld revenue.
As Oregon State and Washington State fight for control of a Pac-12 that has seen its other 10 members depart for the Big Ten, Big 12, and ACC, the two remaining schools have blocked traditional midseason payouts for the entire conference, according to the San Jose Mercury News.
The Pac-12 was set to equally distribute 15% of its annual revenue, which amounts to more than $400 million for the 2023-24 fiscal year for all 12 members. But due to ongoing litigation, any financial decisions require unanimous approval for the 12 conference members, and OSU and WSU aren’t approving those payouts — for them, or anyone else.
In a joint statement, OSU and WSU told The Mercury News: “No member acting in the Pac-12’s best interest would allow departing schools to drain the conference’s assets on their way out the door, while they refuse to pay their fair share of the liabilities.”
The Beavers and Cougars have been making what appears to be contingency plans to operate as a two-school conference next season. The schools are exploring a scheduling partnership with the Mountain West in 2024 that would cost $14 million in fees.
The 10 departing schools allege that OSU and WSU are now abusing their power by withholding conference revenue, despite the outgoing universities’ agreement to let Pac-12 revenues be used for the MWC pact.