The final federal tax filing of the Pac-12 highlights crucial financial metrics revealing a significant revenue drop, pointing to mismanagement and unsustainable executive salaries. For FY 2024, total revenue was $566.6 million, marking a 6.2% drop from the previous year, largely due to the influence of the Rose Bowl contract. The conference distributed varying amounts to its departing schools and faced challenges that showcased the dire financial state impacting operational viability, ultimately reflecting the reasons behind its collapse.
The Pac-12's last financial report reveals significant revenue decline and executive pay issues, emphasizing fiscal mismanagement as key factors contributing to the conference's downfall.
The 2023-24 financials reflect a $566.6 million revenue with expenses at $543.4 million, indicating a 6.2% decrease year-over-year largely due to the Rose Bowl contract.
The conference faced dire revenue challenges, collecting only $121 million in postseason bowl revenue, leading to distributions being adjusted amid tensions over control.
The settlement negotiations among schools resulted in a complex financial arrangement, with several million being withheld or redirected, significantly impacting operational funding for the remaining members.
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