Washington State, Oregon State to Get $65M in Settlement with Leaving Pac-12 Schools

While Washington State and Oregon State will watch the other 10 schools in the Pac-12 depart for different conferences this year, they will at least receive financial compensation in a settlement that was reportedly finalized Monday.

According to the Associated Press, the 10 departing schools finalized a settlement with Oregon State and Washington State that will pay the two remaining schools a total of $65 million in financial distributions.

That $65 million will come in multiple forms with each departing school having $5 million withheld during the 2024 fiscal year. What's more, those schools will pay an additional $1.5 million each as a "supplemental contribution" for the Cougars and Beavers as they look ahead toward the future.

Will Backus of CBS Sports noted the financial distributions will run through June with the departing schools set to join their new conferences in July.

Oregon, UCLA, USC and Washington are joining the Big Ten, California and Stanford are joining the ACC, and Arizona, Arizona State, Colorado and Utah are joining the Big 12. The various moves meant the end of the Pac-12 as fans have long known it and created plenty of uncertainty for Oregon State and Washington State.

Still, this settlement also means the other members cannot move to officially dissolve the Pac-12 without consent in writing from Oregon State and Washington State.

The departing schools will also not receive any revenue starting in 2025 and cannot vote on how the money generated from the additional distributions is used.

"We are pleased to finalize an agreement with OSU and WSU that provides support for all our student-athletes while ensuring an equal distribution of the vast majority of funds earned by all 12 schools during the 2023-24 academic year," the 10 departing schools said in a statement.

"Under this agreement, our schools will have the right to vote on matters that affect all 12 schools this year, while OSU and WSU will have control over future Conference revenue and decisions."

All the conference realignment left the Beavers and Cougars uncertain about their respective futures, although some clarity was provided in December when the West Coast Conference announced the addition of the two schools as affiliate members for two years starting with the 2024-25 academic year.

Both schools will compete in the WCC in men's basketball, women's basketball, women's soccer, volleyball, men's golf, women's golf, women's cross country and women's rowing, while Washington State will compete in women's tennis and men's cross country. Oregon State will compete in men's soccer and softball.

As for football, Backus noted the two schools entered a scheduling alliance with the Mountain West for at least the 2024 season. There is an option on that alliance to extend into the 2025 campaign if necessary.