Oregon State, Washington State Agree To Deal With Departing Pac-12 Schools
Dec 21, 2023, 8:01 PM
The Pac-12 Conference women's basketball tournament trophy is displayed before the tournament championship game between the Washington State Cougars and the UCLA Bruins at Michelob ULTRA Arena on March 05, 2023 in Las Vegas, Nevada. The Cougars defeated the Bruins 65-61. (Photo by Ethan Miller/Getty Images)
(Photo by Ethan Miller/Getty Images)
AP – Oregon State and Washington State announced Thursday they have reached an agreement with 10 departing Pac-12 schools on revenue distribution for 2023-24 that puts an end to a legal battle sparked by conference realignment.
Last week, Oregon State and Washington State were given control of the Pac-12 and assets when the state Supreme Court of Washington declined to review a lower court’s decision to grant the schools a preliminary injunction.
Departing Pac-12 schools will forfeit a portion of distributions over the remainder of this year and provide guarantees against future liabilities. pic.twitter.com/2BQEUcagxk
— Kyle Bonagura (@BonaguraESPN) December 22, 2023
Financial terms of the settlement were not released, but in a joint statement Washington State and Oregon State said the departing members will forfeit a portion of distributions for this school year and guarantees to cover a specific portion of “potential future liabilities.”
The Pac-12 members have reached a settlement in their litigation pic.twitter.com/BIDU7eUW9A
— Ross Dellenger (@RossDellenger) December 22, 2023
The conference, which Oregon State and Washington State intend to keep alive and hope to rebuild, will retains its assets and all future revenues.
“We are pleased to have reached an agreement in principle that ends litigation,” the 10 departing schools said in a joint statement.
