The Pac-12 seemed to have set a new paradigm when, in 2011, it reached a 12-year agreement with ESPN and Fox that would pay the conference $3 billion, or $21 million per school per year. Coupled with the conference’s yet-to-be-launched wholly-owned television network, Larry Scott‘s conference would equal, if not surpass, the Big Ten and the SEC for college sports supremacy.
And then the next few years happened.
We learned the Pac-12 was not re-setting the market, they were just first up to bat. And we learned that the Pac-12 is still the Pac-12. In short, you can give Oregon State fans their own television network, but that doesn’t mean they’re going to suddenly turn into Mississippi State fans.
Now, eight years later, it’s time for each conference to begin preparations for its next round of negotiations, and on Monday the league announce it has hired The Raine Group, a “leading global investment bank focused exclusively on sports, media and technology,” to consult the conference moving forward.
“The Pac-12 CEO Group believes it is important to provide maximum support for our University athletic departments and our student-athletes,” Colorado chancellor and Pac-12 CEO Group chairman Phil DiStefano said. “We look forward to working with The Raine Group, Conference and campus leadership to help us explore the significant opportunities in front of us, both in the short term and in preparation for 2024.”
The NBA, Major League Baseball and the UFC are among the Raine Group’s clientele.
“We are confident that this process will enable the Conference to fully evaluate its options and further allow its member universities to benefit from the future growth in value of its media assets,” Raine Group partner Joe Ratvich said. “There is a significant opportunity for the Pac-12 both domestically and internationally where the conference continues to build its presence.”
For #content purposes, here’s hoping part of The Raine Group’s directive is to stock college football media outlets with conference realignment rumors.