Pac-12 reports drastic revenue decrease in 2024-25 after conference realignment
TL;DR
The Pac-12 is facing a drastic revenue decrease for the 2024-25 school year due to conference realignment, with only Oregon State and Washington State remaining. The conference's tax return reveals the extent of the financial impact following significant departures.
Key points
- Pac-12 reports significant revenue decrease for 2024-25
- Only Oregon State and Washington State remain in the conference
- Conference realignment caused major departures
- Tax return reveals financial impact on the Pac-12
Kirby Lee | USA TODAY Sports
When a groundbreaking wave of conference realignment swept college athletics ahead of the 2024-25 school year, the Pac-12 got caught in the middle. Only Oregon State and Washington State remained, and they began the process of rebuilding the league.
Following the wave of departures, the Pac-12 â as expected â reported a significant decrease in revenue. The conferenceâs tax return, obtained by USA Today, showed just how much it was impacted after the landscape transformed.
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The Pac-12 reported $111.5 million in revenue in fiscal year 2025, which was a drastic decrease from the $556.6 million in revenue during the previous fiscal year, according to USA Today. A big reason for that decline was the conferenceâs new-look TV deal with The CW and FOX Sports. Rights fees dropped from $381 million in fiscal year 2024 to just $3 million in 2025 when the league went to just two members.
As a result of the revenue decreases, the Pac-12 reported a $21.7 million and $133.2 million in expenses. In a press release Friday, the conference said fiscal year 2025 âis the first of two build-up years ahead of the Pac-12âs launch as a new conference beginning with the 2026-27 season.â
Pac-12 preparing for new era
FY24 was the last academic year for the Pac-12 as a 12-member conference before losing 10 programs to the Big Ten, Big 12 and ACC in a historic round of realignment. From there, commissioner George Kliavkoff was out and Teresa Gould was in, and the rebuild began.
Starting in 2026, the Pac-12 will now add seven full members to the conference to join Oregon State and Washington State. Boise State, Colorado State, Fresno State, San Diego State, Texas State and Utah State are all on the way in â bringing the league to eight football members. Gonzaga is also joining after leaving the West Coast Conference.
With the additions, the Pac-12 is also getting ready to begin a new media rights deal. CBS will be the leagueâs primary media partner while The CW will continue to be part of the agreement. The conference then struck a five-year deal with USA Sports, securing three media rights partners as it enters a new era.
One of Gouldâs goals for the new media agreement was to have multiple partners to reach a wide audience. The conference achieved that, and every Pac-12 football game will air on linear television, as well.
Q&A
What caused the Pac-12's revenue decrease in 2024-25?
The revenue decrease is primarily due to conference realignment, which resulted in most teams leaving the Pac-12.
Which teams are left in the Pac-12 after the realignment?
Only Oregon State and Washington State remain in the Pac-12 following the conference realignment.
How significant is the revenue drop for the Pac-12?
The exact figures are detailed in the conference's tax return, which shows a substantial financial impact due to the departures.