and here... we... go...
TLDR: Oregon State and Washington State have filed for a temporary restraining order to keep Kliavkoff from convening a board meeting with the current Pac-12 leadership where they could dissolve the conference and split the current and future assets. The article also has some insight into what those assets actually are.
OSU, Wazzu filing seeks control of Pac-12's future
Oregon State and Washington State have filed a legal complaint against the Pac-12 and commissioner George Kliavkoff, with the heart of the dispute being the distribution of the conference's remaining assets.
www.espn.com
TLDR: Oregon State and Washington State have filed for a temporary restraining order to keep Kliavkoff from convening a board meeting with the current Pac-12 leadership where they could dissolve the conference and split the current and future assets. The article also has some insight into what those assets actually are.