Despite a $30 million offer for 10 Pac-12 teams from ESPN, Stanford and Cal refused to accept the media deal money: Reports

The Pac-12 remains on the verge of collapse following the mass exodus of its members a few weeks back. However, leaving the conference for other Power Five leagues hasn’t been a brilliant decision for most of the teams considering the scenario.

The majority of the teams that have formally announced their exit from the Pac-12 will reportedly earn around $30 million in media money in their new league. Notably, the league reportedly rejected a deal that will earn each school around that amount from ESPN in 2022.

The conference believed the deal from ESPN didn't meet the right valuation and requested a deal that would earn each school around $50 million. ESPN decided to leave the negotiation table and concentrate on other conferences, resulting in a struggle to secure a new media deal.

Stanford and Cal are willing to take a big hit

Unlike the teams that left for the Big Ten and Big 12 who are to receive around $30 million from their new leagues, Stanford and Cal are only due for approximately $24 million in media revenue should their move to the Atlantic Coast Conference come to fruition.

However, the two schools won't be taking a large chunk of it due to the financial concession they are offering to get accepted into the league. Stanford and Cal have offered to receive 30% of their media money for the first seven years in the ACC, which amounts to around $7.2 million.

Without a doubt, this is a big hit financially for the two Bay Area universities. Nonetheless, the goal at this point is to keep their Power Five status.

Will the Pac-12 survive?

The Pac-12 faces an uncertain future in the realm of college sports following its breakup. Many analysts within the landscape are predicting an eventual collapse of the conference.

A successful move of Stanford and Cal to the ACC could mean the end for the Pac-12. This will likely end the possibility of an expansion, which Oliver Luck has been hired to work on. It will also leave Oregon State and Washington State with only Group of Five options.

Following more than 100 years of existence in the college sports landscape, the conference might be entering its last season in the 2023-24 academic year. It will be interesting to see how the events unfold.