Fresh off the addition of Gonzaga, the Pac-12 is pausing its pursuit of new members as it enters a media rights evaluation for the eight current schools it has committed to the conference, sources told CBS Sports on Wednesday.
The evaluation, led by sports and entertainment consulting firm Navigate, could last until the end of the year. It will be conducted with multiple hypothetical lineups and membership possibilities as the conference attempts to outline all possibilities and potential revenue growth within the reformed league, which is set to launch in July 2026.
Sitting at seven members in football, the Pac-12 needs at least one more full-time member to meet NCAA guidelines to be recognized as an FBS conference. Gonzaga announced Tuesday its intention to leave the WCC for the Pac-12 as a member in all sports but football.
The Pac-12 has fielded interest from several universities, and that is expected to continue, but the conference is not expected to offer membership until the evaluation is completed.
Boise State, Colorado State, Fresno State, San Diego State and Utah State announced their exits from the Mountain West for the Pac-12 in September, sending a ripple effect of realignment rumors across the the West. American Athletic Conference schools Memphis, South Florida, Tulane and UTSA re-committed to their conference after discussions with the Pac-12 last week. Memphis seriously considered jumping to the Pac-12 but opted to remain after a request for more money from the Pac-12 to help offset an AAC exit fee hit a roadblock, sources told CBS Sports. The buyout figure in the AAC is believed to be nearly $20 million.
The Pac-12 previously estimated a new media deal could land between $12 million and $15 million, according to Yahoo Sports. AAC teams are paid around $8 million through its media contract with ESPN, which is set to expire in 2032.
Before the Pac-12 imploded in late 2023, the conference was shopping its media rights to multiple partners in an effort to keep membership happy before mass defections left only Oregon State and Washington State as members. In the summer of 2022, Apple presented a five-year deal that would have paid $23 million to the nine remaining schools, according to multiple reports. Soon after, the league dissolved as schools sought bigger paydays in the Big Ten and Big 12.
The Pac-12 is banking on Gonzaga improving its basketball product as it goes to market. The conference is aiming to solidify itself as the top multi-bid conference outside the power structure with eyes on supplanting the Big East as a power. The conference projects six of its members as Quad 1 programs. The new programs could land the Pac-12 an average of five teams in the NCAA Tournament each year, according to previous regular-season results.
Basketball media rights are expected to rise in the near future. The Big 12 is considering selling its football and basketball packages as separate television deals in 2030. Commissioner Brett Yormark believes the conference has positioned itself into consideration as the strongest basketball product in the country after 70% of its members reached the NCAA men's basketball tournament last season.
