Departing Pac-12 schools agree to revenue distribution with Oregon State, Washington State for 2023-24

The Pac-12 has finally reached an agreement on revenue distribution for the 2023-24 academic year, with Oregon State, Washington State and the 10 departing Pac-12 schools releasing statements confirming as much on Monday afternoon.

The negotiations over the details of the revenue distribution have been ongoing for months. No specifics were provided in the statements released by either party.

“We are pleased to finalize an agreement with OSU and WSU that provides support for all our student-athletes while ensuring an equal distribution of the vast majority of funds earned by all 12 schools during the 2023-24 academic year,” the statement from the 10 departing schools read.

“Under this agreement, our schools will have the right to vote on matters that affect all 12 schools this year, while OSU and WSU will have control over future Conference revenue and decisions.”

Added Oregon State president Jayathi Murthy and Washington State president Kirk Schulz in a separate statement:

“We are pleased to have reached a fair and equitable settlement with the 10 departing schools that will set the Pac-12 Conference on a path toward future success. With this issue resolved, we can focus on ensuring that OSU and WSU student-athletes continue to compete at the highest levels of college sports.”

Among the complicating factors in the Pac-12 revenue distribution agreement was the allocation of funds for potential future liabilities, with a handful of suits outstanding against the conference.

Back in December, former Oregonian columnist John Canzano provided reported details on some of those liabilities and what the negotiated revenue distribution would do to provide for them.

He noted that $190 million had been designated in future conference revenue, while $65 million from the departing schools would be spread out over the next two years, giving the two schools a $255 million war chest to deal with any liabilities.

The Pac-12 as it formerly existed dissolved following the departure of several prominent schools, including UCLA, USC, Oregon and Washington to the Big Ten; Arizona, Arizona State, Colorado and Utah to the Big 12; and California and Stanford to the ACC.

Oregon State and Washington State are set to join the West Coast Conference as affiliate members going forward for the 2024-25 and 2025-26 seasons, with the exception of football and baseball. Oregon State and Washington reached an agreement to compete against the Mountain West in football for at least six games.