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The drama surrounding the Pac-12 Conference does not rest, as there seems to be another issue piling up. Oregon State and Washington State, the two schools that have not announced their departure, are seeking an emergency temporary restraining order against the Pac-12 and Commissioner George Kliavkoff.
The bylaws of the Conference of Champions reportedly indicate that the league's board of directors should comprise only the pair of schools. The filing of the legal action took place, and there seem to be a lot of issues. Below is a section of the legal document:
"The Conference will have breached its Bylaws; WSU's and OSU's rights as remaining members of the Pac-12 Conference will have been eviscerated; and the ten departing members may seek to amend the Bylaws to alter the governance structure of the Conference and take actions to protect their own self-interests to the detriment of WSU and OSU."
In layman's terms, the two programs feel they should control the distribution of the remaining assets of the conference and not the members leaving in 2024. To put a dollar figure on it, the filing states the conference ended the 2022 fiscal year with $42.7 million in net assets, not including the equity from the Pac-12 Networks. They also would have bowl contracts and College Football Playoff payouts while including $50.2 million from the NCAA Men's Basketball Tournament as well as the name brand of the conference.
It will be interesting to see how this goes and if this alters the future of the Conference of Champions.
What value does the Pac-12 have at this point?
Whether people want to admit it or not, there is some value to the Pac-12 brand. Even if it is used as a rebranding for whatever conference to keep the namesake alive, there is still power in the media rights with the right leadership. It has become clear that George Kliavkoff would be a hindrance to the programs.
They have been unable to find a media rights deal, which is one of the biggest forms of incompetence seen in a Power Five conference. They could not find an agreement, and 10 of the 12 members left.
Washington State and Oregon State could hire Oliver Luck as the new commissioner and keep the conference running. It will be interesting as more details emerge.
