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Post by RenoBeaver on Dec 21, 2023 16:14:07 GMT -8
Per Twitter
If anyone knows the deal please post.
f%#* all yall Pac 10 bitches
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ftd
Junior
"I think real leaders show up when times are hard." Trent Bray 11/29/2023
Posts: 2,517
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Post by ftd on Dec 21, 2023 16:54:33 GMT -8
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Post by fishwrapper on Dec 21, 2023 17:03:24 GMT -8
Dear OSU Community Members, I am pleased to share that OSU, WSU and all 10 universities departing the Pac-12 Conference announced an agreement in principle that ends litigation, achieves a fair resolution for each university, supports our student-athletes, and promotes the continuing vitality of the Pac-12 Conference. This agreement marks a huge victory for our university and a significant step toward stabilizing the Pac-12 Conference and preserving its 108-year legacy. As I shared with you in the days following the momentous events of Aug. 4, we believe that preserving the Pac-12 is in the best interests of OSU student-athletes and our university. We will continue to do everything in our control to stabilize and rebuild the conference. Under the negotiated agreement, the departing schools have agreed to forfeit a portion of distributions over the remainder of the 2023-2024 year and provide specific guarantees against potential future liabilities. The conference retains its assets and all future revenues. From the beginning, our highest priority has been the holistic development and well-being of student-athletes, including their ability to compete at the highest level possible. A scheduling agreement with the Mountain West Conference for the 2024 football season and plans with the West Coast Conference for 10 other sports provide that certainty while minimizing travel time for student-athletes, families and fans. In addition, these agreements allow us the flexibility to keep options open as we assess the future viability of the Pac-12. Having secured governance of the Pac-12 as its sole board members, OSU and WSU now have an opportunity to chart an unprecedented path. Will this also mean a financial windfall for our athletics programs? No. In fact, the loss of the Pac-12 media rights deal means that our financial projections for 2025 and beyond remain the same, and conference revenues alone cannot make up the more than $40 million annual gap in OSU Athletics funding caused by the departing universities. We continue to need a combination of legislative, institutional and philanthropy support to sustain the program and put OSU in a stronger position for the next potential rounds of conference realignment. As the state Legislature comes back into session in February, we will again ask for its support. We’ll continue to provide updates on this and other developments resulting from conference realignment at beav.es/TBs. Sincerely, Jayathi Murthy President |
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ftd
Junior
"I think real leaders show up when times are hard." Trent Bray 11/29/2023
Posts: 2,517
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Post by ftd on Dec 21, 2023 17:07:13 GMT -8
any bets on how much the agreed to forfeit? I say 12.5%
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Post by speakthetruth on Dec 21, 2023 17:08:15 GMT -8
With that agreement can we fire the commissioner. Today isn't soon enough.
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ftd
Junior
"I think real leaders show up when times are hard." Trent Bray 11/29/2023
Posts: 2,517
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Post by ftd on Dec 21, 2023 17:12:19 GMT -8
With that agreement can we fire the commissioner. Today isn't soon enough. maybe its part of the agreement.....Georgie steps down and gets a partial settlement paid by all12 teams?? |
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Post by bigorangebeaver on Dec 21, 2023 17:22:00 GMT -8
Between this announcement and the WCC affiliation agreement, things look a bit brighter today. About dam time.
Go Beavs!
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Post by pabeaver on Dec 21, 2023 17:37:10 GMT -8
Murthy and Shultz leveraged their position of power beautifully. The t10 agree to end litigation, give up all of their conference assets, and pay us to do it.
So glad they are not part of the “we better pay them their full distribution or we’ll get sued” crowd.
We held all of the cards and we took advantage.
Well done presidents.
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Post by pabeaver on Dec 21, 2023 17:39:08 GMT -8
With that agreement can we fire the commissioner. Today isn't soon enough. maybe it’s part of the agreement.....Georgie steps down and gets a partial settlement paid by all12 teams?? I hope not. He needs to pay us on his way out |
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escott58
Sophomore
Posts: 1,319
Grad Year: 1983
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Post by escott58 on Dec 21, 2023 17:43:08 GMT -8
This is certainly great news, and we probably won't have to worry about further money-grabbing attempts. We still need to audit the pac-12 finances and all communications. Maybe we'd find something to fire that j***ov with cause.
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Post by Werebeaver on Dec 21, 2023 17:58:46 GMT -8
maybe it’s part of the agreement.....Georgie steps down and gets a partial settlement paid by all12 teams?? I hope not. He needs to pay us on his way out He should be fired for cause. $0 settlement to Kliavjerkoff. |
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Post by bvrbooster on Dec 21, 2023 18:14:02 GMT -8
Dear OSU Community Members, I am pleased to share that OSU, WSU and all 10 universities departing the Pac-12 Conference announced an agreement in principle that ends litigation, achieves a fair resolution for each university, supports our student-athletes, and promotes the continuing vitality of the Pac-12 Conference. This agreement marks a huge victory for our university and a significant step toward stabilizing the Pac-12 Conference and preserving its 108-year legacy. As I shared with you in the days following the momentous events of Aug. 4, we believe that preserving the Pac-12 is in the best interests of OSU student-athletes and our university. We will continue to do everything in our control to stabilize and rebuild the conference. Under the negotiated agreement, the departing schools have agreed to forfeit a portion of distributions over the remainder of the 2023-2024 year and provide specific guarantees against potential future liabilities. The conference retains its assets and all future revenues. From the beginning, our highest priority has been the holistic development and well-being of student-athletes, including their ability to compete at the highest level possible. A scheduling agreement with the Mountain West Conference for the 2024 football season and plans with the West Coast Conference for 10 other sports provide that certainty while minimizing travel time for student-athletes, families and fans. In addition, these agreements allow us the flexibility to keep options open as we assess the future viability of the Pac-12. Having secured governance of the Pac-12 as its sole board members, OSU and WSU now have an opportunity to chart an unprecedented path. Will this also mean a financial windfall for our athletics programs? No. In fact, the loss of the Pac-12 media rights deal means that our financial projections for 2025 and beyond remain the same, and conference revenues alone cannot make up the more than $40 million annual gap in OSU Athletics funding caused by the departing universities. We continue to need a combination of legislative, institutional and philanthropy support to sustain the program and put OSU in a stronger position for the next potential rounds of conference realignment. As the state Legislature comes back into session in February, we will again ask for its support. We’ll continue to provide updates on this and other developments resulting from conference realignment at beav.es/TBs. Sincerely, Jayathi Murthy President Murthy is one kick ass lady. I cannot say enough good things about her and what she has done for the university. We are very, very fortunate to have her. |
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sparty
Junior
Posts: 2,999
Member is Online
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Post by sparty on Dec 21, 2023 18:25:27 GMT -8
Per Twitter If anyone knows the deal please post. f%#* all yall Pac 10 bitches Buckled in alittle bit and could have gotten more is what likely happened. My guess is it is around 20 million per school
Wilner "The amount forfeited was not disclosed but likely is based on the $420 million in revenue the conference is expected to generate in the current competition year. If divided equally, a full share would be $35 million per school."
(Estimates during the course of the legal process had pegged a reasonable forfeiture amount between $5 million and $10 million per school.)
So rather ho hum not to keep it all which I believe was possible.
Where is the public records request the media will want.
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Post by Henry Skrimshander on Dec 21, 2023 18:49:24 GMT -8
We KTA.
They never would have agreed to the twins keeping all the revenue. Something between $50 and $100 million in withheld revenue for us to share is more than fair. If we ever hope for a P4 conference to deal with us again, we had to act fairly. We did.
The most important thing is, it's settled, and we have a conference option for the next two years so we can compete for automatic berth and players and coaches can earn individual honors.
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Post by Henry Skrimshander on Dec 21, 2023 21:12:06 GMT -8
In the past week or so:
* We announced a football schedule, and a two-year partnership with the MWC that will provide competitive, regional competition for 2024 and 2025.
* Between the portal and signing day, we are filling the holes left by a less-than expected "mass exodus" to power conferences. We're assembling a quality coaching staff.
* We announced a two-year, partnership with the WCC for regional, quality competition for our Olympic sports, with eligibility to compete for championships at automatic tournament berths.
* We got a very favorable settlement with the departing programs that will provide us with plenty of money for the immediate future, and at least some receipts (NCAA basketball disbursements) through 2030.
* We now have a two-year waiting period to see what happens in college athletics, without being tied to anyone or anything past 2025-26.
We had a great week. Be happy. It's allowed.
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