Photo: Ethan Miller / Getty Images Sport / Getty Images
Photo: Getty Images
Oregon State and Washington State and the 10 departing Pac-12 universities are ending the ongoing litigation for control of the conference.
The two sides announced they have come to an agreement in principle on Thursday.
As part of the agreement, the 10 departing schools will forfeit a portion of revenue distributions in the 2023-24 school year and have specific guarantees against potential future liabilities.
The Pac-12 retains all its assets and future revenues, with Oregon State and Washington State remaining as members of the conference.
OSU and WSU released this statement:
“In September, as the two remaining members of the Pac-12 Conference, Oregon State University and Washington State University were forced to act swiftly to protect the future viability of the Pac-12. Thanks to the determination and strength of Beaver Nation and Cougar Nation and the excellence of our student-athletes, coaches and staff, we are now closer to achieving our goal. Today’s news marks a huge victory for our universities and a significant step toward stabilizing the Pac-12 Conference and preserving its 108-year legacy. The departing schools have agreed to forfeit a portion of distributions over the remainder of the 2023-2024 year and provide specific guarantees against potential future liabilities. The conference retains its assets and all future revenues. This agreement ensures that the future of the Pac-12 will be decided by the schools that are staying, not those that are leaving. We look forward to what the future holds for our universities, our student-athletes, the Pac-12 Conference and millions of fans.”
– Jayathi Murthy, President of Oregon State University, and Kirk Schulz, President of Washington State University