In financial year significantly impacted by game cancellations due to Covid-19 pandemic, consolidated revenue reported at $344M with total distributions at $238M

Consolidated Expenses decrease 23% year-on-year

SAN FRANCISCO – The Pac-12 Conference today reported the financial performance for the financial year 2020-2021 which was significantly impacted by football and basketball game cancellations due to the Covid-19 pandemic, with total revenues of $344M and distributions at $238M, representing an average of $19.8M per member university.  The year-on-year decrease in reported revenues and distributions, at 36% and 41% respectively, is primarily a result of decreases in media rights and post-season Bowl revenues due to game cancellations, lower event revenue from no fans, and higher costs associated with Covid-19 health and safety protocols and testing, offset somewhat by lower championship events operating costs due to no fans, lower production costs from canceled games and lower personnel costs related to salary reductions, furloughs and layoffs. The equity value of the Pac-12’s full ownership of its Pac-12 Networks is not included in reported results.

For 2020-2021, the Pac-12 Conference reported revenues of $301M and net operating expenses of $42M.  For 2020-2021, the Pac-12 Networks reported revenues of $43M and net operating expenses of $57M.  Consolidated expenses for the Conference and Networks together decreased by 23% year-on-year.  A summary of consolidated results is set forth below.

“While the global pandemic significantly impacted our 2020-21 financial results, I am incredibly proud of our Conference’s collective commitment to the health and safety of our student-athletes and all those connected to Pac-12 sports,” said Pac-12 Commissioner George Kliavkoff.  “We are encouraged by the substantial return to pre-pandemic levels of revenue and distributions that our 2021-22 financial results will show when reported this coming year.”

Michael Schill, Chair of the Pac-12 Board of Directors and President of the University of Oregon added:
“These financial results are not unexpected given the tumultuous times our world has experienced. I am pleased to see revenue and distributions making rebounds now as the impacts of the pandemic subside. I appreciate the dedication of the Pac-12 and I am grateful for the leadership of Commissioner George Kliavkoff.”

Notes: “All Other Expenses” primarily includes taxes, sales expense, equipment supplies and maintenance, and officiating.

The Pac-12 Conference is dedicated to developing the next generation of leaders by championing excellence in academics, athletics, and the well-being of our student-athletes. Built on a firm foundation of academic excellence and superior athletic performance, the Pac-12 continues to renew its undisputed claim as the “Conference of Champions,” leading the nation with 543 NCAA team titles overall, over 200 more than the next closest conference. The Pac-12 also wholly owns and operates Pac-12 Networks, the Conference's sports media company that produces and distributes 850 live sporting events each season, making it one of the top live-sports producers in the country. Pac-12 Networks also offers extensive digital content via Pac-12.com, the Pac-12 Now app, Pac-12 official athletics websites and Pac-12 Insider. The Pac-12 Conference is comprised of 12 leading U.S. universities, the University of Arizona, Arizona State University, the University of California, Berkeley, the University of California Los Angeles, the University of Colorado Boulder, the University of Oregon, Oregon State University, Stanford University, the University of Southern California, the University of Utah, the University of Washington and Washington State University. More information on the Pac-12 is available at Pac-12.com.