CFB insider claims Pac-12 turned down a $31.7 million proposal before the Big 12 bagged a similar deal and kicked off realignment moves

The Pac-12 finds itself in one of the most difficult situations in its entire history. After failing to secure a lucrative media deal, the conference has seen a mass exodus of its members with six schools making their exit last week, bringing the membership down to four.

According to college football insider Jim Williams, the Pac-12 initially turned down the same deal that the Big 12 eventually got from ESPN and Fox. This would have ensured the conference teams get paid $31.7 million per school annually in television money.

However, Commissioner George Kliavkoff and his team felt the conference deserved a better television deal and rejected the offer. This gamble ended up ruining the conference as it struggled for months to secure another media deal in several following months.

The Pac-12 overvalued its brand

The Pac-12's inability to strategically analyze where it stands economically was a huge blunder to commit. The conference sees itself beyond what it really is and rejected a media deal that would have saved its future. The Big 12 wasted no time to take the same deal.

The exit of USC and UCLA from the conference at a time when it was negotiating a new media deal also did not help. It made ESPN and Fox reach the conclusion that the conference brand does not hold as much value in the college football landscape as it used to.

The prospect of USC and UCLA joining the Big Ten promised a substantial increase in annual earnings for the two universities. This was particularly crucial as the Big Ten was then in the midst of negotiating fresh television agreements with its media partners.

The addition of universities from a large media market further enhances the Big Ten's efforts to secure a lucrative television contract. On the other hand, the realignment of the two universities slowly killed the Pac-12 brand and it started to struggle as an athletic conference.

Poor leadership ruined the conference

The current situation of the Pac-12 has been blamed on poor leadership in the past and present. Recent revelations continue to show how the conference leadership under Larry Scott and George Kliavkoff made big mistakes that turned out to be really costly.

Oregon and Washington are joining the Big Ten in a discounted media money deal reported to be between $30-35 million per year. Colorado, Arizona, Arizona State, and Utah will also earn not more than $31.7 million annually in television money with the Big 12.

Therefore, this decision represents another instance of the numerous errors the conference leadership committed over the course of time.