Pac-12 Reports Drastic Revenue Drop Amid Realignment and Rebuild

The Pac-12 Conference reported a significant decline in revenue for the 2024-25 fiscal year, dropping to $111.5 million from $556.6 million the previous year. This financial contraction follows a historic wave of conference realignment that left only Oregon State and Washington State as remaining members. A primary driver of this decrease was the collapse of television rights fees, which fell from $381 million to just $3 million under a temporary deal with The CW and FOX Sports. Despite reporting $133.2 million in expenses against the reduced income, conference leadership describes this period as a transitional build-up phase. Under new commissioner Teresa Gould, the Pac-12 is preparing for a relaunch in the 2026-27 season. The conference has secured seven new full members, including Boise State, Colorado State, and Gonzaga, expanding its footprint. Additionally, a new multi-partner media rights agreement has been established with CBS, The CW, and USA Sports, ensuring linear television coverage for all football games as the league enters a new era.