Oregon State, Washington State settle with departing Pac-12 schools - ESPN

Oregon State and Washington State have come to an agreement in principle with the 10 departing Pac-12 universities that will end ongoing litigation related to control of the conference, the 12 universities announced Thursday.

The agreement comes in the wake of the Washington state supreme court's decision last week not to review a lower court's decision that granted control of the Pac-12 board of directors to OSU and WSU.

As part of the agreement, the 10 departing schools will forfeit an undisclosed portion of revenue distributions over the rest of the 2023-24 school year and have provided «specific guarantees against potential future liabilities.»

«In September, as the two remaining members of the Pac-12 Conference, Oregon State University and Washington State University were forced to act swiftly to protect the future viability of the Pac-12. Thanks to the determination and strength of Beaver Nation and Cougar Nation and the excellence of our student-athletes, coaches and staff, we are now closer to achieving our goal,» OSU president Jayathi Murthy and WSU president Kirk Schultz said in a joint statement. «Today's news marks a huge victory for our universities and a significant step toward stabilizing the Pac-12 Conference and preserving its 108-year legacy.»

The Pac-12 will retain all its assets and future revenues, the presidents added.

This development allows all involved parties to move forward and, for OSU and WSU in particular, a better sense of what their financial picture will look like as they begin the process to rebuild the Pac-12.

Earlier this month, OSU and WSU announced it had come to a scheduling agreement with the Mountain West Conference to play six MWC opponents in football during the 2024 season.