Pac-12 financial performance - Printable Version

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Pac-12 financial performance - 82lsju - 05-19-2023

Highlights

Quote:The conference reported total revenues of $581 million and paid out an average of $37 million to each campus. Both constitute records by a significant amount.
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While the Pac-12 spun off $37 million per campus, the ACC distributed a range of $37.9 million to $41.3 million, according to USA Today, while the Big 12 paid $42 million to $44.9 million. The Big Ten ($58.8 million) and SEC ($49.8 million), according to USAT, are on another level.
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Expenses related to conference operations dropped 12.7 percent, to $41 million
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Speaking of Larry Scott: He received $4.1 million from the Pac-12 for six months of work, from January through June of 2021. That figure includes a $1.5 million severance payment.

However, Scott’s $1.8 million relocation loan has not been repaid — yet. It’s due on June 30, 2024, according to the conference.

Of note: Scott’s annual compensation and severance package were determined by the university presidents.


Although his tenure ended on June 30, 2021, his contract expired at the end of the 2022 fiscal year. So additional compensation will appear on the Pac-12’s tax filings next spring, the conference said.


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[i]“The conference anticipates filing an amended form 990 for fiscal year 2022 in the future related to a possible restatement in the audited financial statements.”[/i]

[i]Asked for an explanation, the conference indicated the issue was related to the outcome of discussions with the unnamed media partner that overpaid the Pac-12 Networks for years.[/i]

https://www.mercurynews.com/2023/05/19/pac-12-tax-filings-for-fy2022-reveal-record-revenue-the-comcast-cloud-and-a-sweet-parting-gift-for-larry-scott/?clearUserState=true

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