South Carolina, NC State Meet in Final Four: Live Coverage Today
In a groundbreaking development, Oregon State and Washington State have reached an agreement in principle with the 10 departing Pac-12 schools to settle their ongoing legal battle over control of the conference’s board and assets. This resolution comes after a decision by the Washington Supreme Court last week, which granted OSU and WSU control of the league until a trial or settlement between the sides.
The agreement stipulates that the outgoing schools will forfeit a portion of distributions over the rest of the 2023-2024 year and provide guarantees against potential future liabilities. In return, the conference will retain its assets and all future revenues. The departing schools have agreed to distribute the vast majority of funds earned in 2023-24 equally among the 12 members.
This development marks a significant victory for OSU and WSU, who were concerned about the departing schools potentially voting to dissolve the conference and split up the assets. With this resolution, the two schools will keep all future assets, retain some of this year’s distribution money, and have guarantees against future liabilities from the departing schools.
Moving forward, OSU and WSU can now focus on back-filling the league and keeping the Pac-12 brand alive. They have already signed a football scheduling agreement with the Mountain West and are placing most of their other sports in the West Coast Conference. This allows the schools to provide their athletes and coaches with schedules to look forward to while they navigate the long-term future of their athletic programs.
Overall, this resolution represents a significant step towards stabilizing the Pac-12 Conference and preserving its legacy. It ensures that the future of the conference will be decided by the schools that are staying, rather than those that are leaving. With this legal dispute now behind them, OSU and WSU can focus on building a strong foundation for their athletic programs moving forward.
