Oregon State, Wazzu reach settlement with exiting Pac-12 schools

The 10 departing members of the Pac-12 reached a settlement agreement with remaining schools Oregon State and Washington State to end litigation related to control of the conference.

As part of the deal announced Thursday, the exiting schools will give up some of their 2023-24 revenue, cede future control of league assets and agree to language against future litigation.

The sides reached an accord in the wake of the state of Washington's Supreme Court decision last week that chose not to revisit a lower court's ruling that gave control of the Pac-12 board of directors to the remaining schools.

Oregon State president Jayathi Murthy and Washington State president Kirk Schulz issued a joint statement on the matter Thursday.

"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 statement read in part.

The latest news provides an additional measure of security for the two schools, particularly as it relates to potentially keeping the Pac-12 brand alive.

The two schools previously reached a scheduling agreement with the Mountain West Conference to play six Mountain West teams in football next fall, and more recently, secured an agreement with the West Coast Conference to host most of the rest of their sports.

But neither of those deals are long-term in nature, and the NCAA allows a conference a two-year grace period to continue to exist below the normal required seven active members.

Much speculation to this point has centered on a "reverse merger" wherein the entirety of the Mountain West schools would join the Pac-12, though Oregon State and Washington State now have additional time to weigh that proposal against other options.

—Field Level Media