Oregon State and Washington State got most of the Pac-12’s money and assets in the divorce with the 10 former members. School leaders have pushed back on referring to what they have access to as a war chest, but they have about $250 million at their disposal.
They will have to dip into that to extricate Boise State, Colorado State, Fresno State and San Diego State from the Mountain West, probably to the tune of about $110 million.
Will they spend more on Mountain West schools or look elsewhere?
In the Mountain West, Air Force and Nevada Las Vegas could be next in line. Schools in the American Athletic Conference such as Texas San Antonio, Memphis and Tulane could be attractive and cheaper.
AAC bylaws require departing members pay a $10-million withdrawal fee and give 27 months’ notice. That timeline doesn’t work for a July 2026 entry to the Pac-12, so figure any school leaving the AAC would have to increase the exit fee by a few million.
The ACC currently has the best media rights deal among Group of Five conferences, helping the conference pay out about $9 million per school per year.
None of the schools that left the Pac-12 is coming back. Even with the uncertainty in the Atlantic Coast Conference, Stanford and California are locked in long term via a grant of media rights contract — unless the ACC is next to collapse.