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LEXINGTON, KENTUCKY – FEBRUARY 10: Reed Sheppard #15 of the Kentucky Wildcats dribbles the ball in the second half while defended by Nolan Hickman #11of the Gonzaga Bulldogs at Rupp Arena on February 10, 2024 in Lexington, Kentucky. (Photo by Andy Lyons/Getty Images)
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LEXINGTON, KENTUCKY – FEBRUARY 10: Reed Sheppard #15 of the Kentucky Wildcats dribbles the ball in the second half while defended by Nolan Hickman #11of the Gonzaga Bulldogs at Rupp Arena on February 10, 2024 in Lexington, Kentucky. (Photo by Andy Lyons/Getty Images)
In the summer of 2022, USC and UCLA both announced that they were joining the Big Ten Conference. Immediately, the Pac-12’s strategic advisers suggested adding Gonzaga and San Diego State to help create stability and offset the loss of UCLA’s basketball program. After this, the conference would have taken its reformed structure to the market. Particularly, for attracting a media rights deal before presenting one to select Big 12 schools.
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However, since presidents and athletic directors disagreed for various reasons, the idea was rejected, according to the Seattle Times. But, over two years, the narrative has changed. The Bulldogs will soon join the conference in all sports starting July 1, 2026. Read on to understand the financial mindset behind this latest move.
Bulldogs join the new list of 8
On October 1st, the Bulldogs made an official announcement of becoming the latest member of the rebuilt Pac-12 Conference. After dominating the West Coast Conference for nearly a quarter of a century, Gonzaga is moving to a conference being rebuilt around football. Yet, Gonzaga will be strong on the basketball court, having reached the Round of 16 of the men’s NCAA tournament nine consecutive times.
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They’ll be the eighth member, alongside holdovers Oregon State and Washington State, and newcomers Fresno State, Utah State, San Diego State, Boise State, and Colorado State from the Mountain West. “An exciting milestone for the Pac-12 as we welcome another outstanding institution with a rich history of success into our league,” shared Commissioner Teresa Gould in a press conference.
But why are they adding an institution that was previously rejected? The answer, of course, is money. This changed by mid-2023 when Pac-12 media rights conversations weren’t successful. It was then that the Big Ten invited Oregon and Washington to join the conference. The seven-year, $7 billion-plus deal was inked with an agreement from USC and UCLA to join as full members.
A financial windfall or uncertain revenue split?
Now, all these Big Ten schools will be able to earn around $90 million annually, though it’s most likely to happen towards the end of their contract. For context, this amount will be triple what UCLA and USC’s Pac-12 revenues were, roughly $33 million each. Therefore, Gonzaga is expected to receive either a half or full share in the Pac-12.
In addition, it is estimated that the Bulldogs could attract a media rights deal worth at least $10 million per year. “I think they have been looking for a new league for a long time… They were just waiting for the right fit. This is regional, it makes sense, and it makes sense financially,” added Dutcher.
Although the Bulldogs are likely to earn the same amount as other schools, the financial details of their move into the Pac-12 have not been disclosed. In the media world, football accounts for 80 cents of every dollar spent on programming. However, the school’s value will likely far exceed its current $2 million, especially considering the audience (900,000 viewers from 2018 to 2023) it drew against Power Five opponents over a five-season span. Still, the question remains: Will the Zags receive a full share or an equal split of all revenues?
Written by
Edited by
Shivatmika Manvi