Skip to main content

The Pac-12 Announced Some Stunning News Today

A member of Cals football team stretching next to a Pac-12 football logo.

BOULDER, CO - SEPTEMBER 10: A member of the California Golden Bears warms up prior to facing the Colorado Buffaloes at Folsom Field on September 10, 2011 in Boulder, Colorado. (Photo by Doug Pensinger/Getty Images)

The Pac-12 is getting criticized pretty harshly for some stunning news that was revealed this afternoon.

According to a report by The Oregonian, the Pac-12 is exploring taking on private equity partners.

The idea is not going over well.

"This is a breathtakingly bad idea," tweeted Dan Rubenstein.

Here are the details:

Pac-12 Conference leadership pitched university presidents and chancellors a strategic plan aimed at bailing out the struggling conference and helping it keep pace with its Power Five Conference peers.

The “Pac-12 NewCo” plan was introduced to the conference presidents and chancellors at their mid-November meeting and was subsequently discussed in a conference call in December, per sources. Private investors would own 10 percent equity in the newly formed entity in exchange for a $500 million investment.

A six-page document obtained by The Oregonian/OregonLive outlines the plan presented by conference commissioner Larry Scott to his bosses during the November meeting of the “Pac-12 CEO Group.”

The Pac-12 clearly needs to fix some things moving forward, but we're not sure if this is the answer.

Stay tuned.