It was obviously a disaster for the Pac-12 Conference that the league splintered and watched USC leave. The Trojans left for the Big Ten, as did UCLA, Oregon and Washington from the West Coast. The Arizona schools left for the Big 12. So did Utah and Colorado. Cal and Stanford left for the ACC. Now USA TODAY Sports has details on the extent to which the Pac-12’s collapse crushed conference revenue.
“The numbers in it are jarring but also a reminder that this is a league that is building back up soon with seven incoming full members in 2026. The tax return was obtained from the league by USA TODAY Sports for fiscal year 2025, which runs from July 2024 through June 2025, a year in which Oregon State and Washington State were the Pac-12’s only members. Here is what it shows:
“Revenue collapsed from $566.6 million in fiscal 2024 to $111.5 million in fiscal 2025. This is primarily because there was a drastic reduction in television companies wanting to pay for their games. The league’s television rights fees went down to $3 million from $381 million in the previous fiscal year, when the Pac-12 still had 12 members. Oregon State and Washington State football games in 2024 were televised by The CW Network and Fox Sports. The depleted revenue stream also led to a deficit of $21.7 million after $133.2 million in expenses.
“’FY25 is the first of two build-up years ahead of the Pac-12’s launch as a new conference beginning with the 2026-27 season,’ the league said in a news release May 15. That’s when the league will add Boise State, Colorado State, Fresno State, Gonzaga, San Diego State, Texas State and Utah State.”
The Pac-12 could have played its cards differently … but it didn’t. The costs can now be seen in full.
This article originally appeared on Trojans Wire: USA TODAY report shows how conference realignment crushed the Pac-12
Reporting by Matt Zemek, Trojans Wire / Trojans Wire
USA TODAY Network via Reuters Connect
