In first reported financial year since the Covid-19 pandemic, record consolidated revenue at $581M with record total distributions at $444M, up 9% and 10% respectively from the last Pac-12 pre-pandemic 2019-2020 financial results
Consolidated Expenses decrease 9% from last pre-pandemic 2019-2020 financial results
SAN FRANCISCO – May 19, 2023 – The Pac-12 Conference today reported the financial performance for the financial year 2021-2022, with record total revenues of $581M and record distributions at $444M, representing an average of $37M per member university. The increase in reported revenues and distributions from the last Pac-12 pre-pandemic 2019-2020 financial results, at 9% and 10% respectively, is primarily a result of increases in media rights, post-season Bowl revenues and NCAA basketball tournament revenue distributions. The equity value of the Pac-12’s full ownership of its Pac-12 Networks is not included in reported results.
For 2021-2022, the Pac-12 Conference reported revenues of $464M and net operating expenses of $41M. For 2021-2022, the Pac-12 Networks reported revenues of $117M and net operating expenses of $77M. Consolidated expenses for the Conference and Networks together decreased by 9% from the last pre-pandemic 2019-2020 financial results. A summary of consolidated results is set forth below.
“We are pleased to have generated record revenues and distributions for our members in this first reported year coming out of the pandemic,” said Pac-12 Commissioner George Kliavkoff. “These revenues are used by our campus athletic departments to provide invaluable support to our over 7,000 student-athletes annually and to fulfill our mission to develop the next generation of leaders.”
Ana Mari Cauce, President of the University of Washington and Chair of the Pac-12 Board of Directors added: “The record financial results announced today position the Pac-12 for future growth and success as we continue our media rights discussions. Most importantly this growth enables us to provide best-in-class support for our student-athletes, from health and well-being to academic and athletic education, training and opportunities.”
Consolidated |
|
Revenue |
|
All other contributions, gifts grants, etc |
7,544,121 |
Television Rights Fees |
385,600,985 |
Post Season Bowls |
124,684,967 |
NCAA Funds/Conf Event |
38,560,064 |
Advertising |
10,825,727 |
Other Revenue |
13,389,724 |
Investment Income |
290,216 |
Total Revenue |
580,895,804 |
Expenses |
|
Compensation of current officers, directors, trustees and key employees (including nontaxable benefits) |
10,019,084 |
Other salaries and wages |
19,878,089 |
Pension plan accruals and contributions (employer portion) |
1,504,632 |
Other employee benefits |
3,477,828 |
Payroll taxes |
1,742,830 |
Legal fees |
4,568,907 |
Accounting fees |
202,757 |
Other |
4,452,846 |
Advertising and promotion |
1,579,519 |
Office expenses |
389,843 |
Information technology |
10,788,634 |
Occupancy |
7,349,245 |
Travel |
1,725,814 |
Conferences, conventions and meetings |
1,174,331 |
Depreciation, depletion and amortization |
22,399,200 |
Insurance |
1,325,784 |
Other Expenses |
|
Conference Events |
7,871,034 |
Officiating |
3,028,703 |
Research and Education |
4,367,881 |
Commissions |
2,497,395 |
All other Expenses |
7,961,640 |
Total Other Expenses |
25,726,653 |
Total Expenses |
118,305,996 |
Grants to domestic organizations |
444,077,756 |
Net Operating Expenses |
562,383,752 |
Net Revenues over Expenses |
18,512,052 |
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 552 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.