4 MWC schools to pay $68 million exit fee to join Pac-12 as insider drops major conference realignment update

News broke on Wednesday that four MWC schools will join the Pac-12 in a major conference realignment move that will likely start another round of expansion. The Pac-12 had been decimated with the mass exodus of ten of its members to various conferences last year.

According to Action Network analyst Brett McMurphy, the move will not be cheap for Boise State, Fresno State, Colorado State and the highly marketable San Diego State with each program poised to pay an exit fee of $17 million to the MWC.

Commissioner Teresa Gould's Pac-12 will also have to pay $10-12 million in penalty for every program that it poaches from its rival due to an existing scheduling agreement between the conferences.

Mountain West conference Commissioner Gloria Nevarez addressed the move by MWC schools to Pac-12 in a statement released on Wednesday evening detailing that they will be held to the conference's financial by-laws with no exceptions.

"The Mountain West Conference is aware of media reports regarding the potential departure of several of our members, and we will have more to say in the days ahead," Nevarez said. "All members will be held to the Conference bylaws and policies should they elect to depart.

"The requirements of the scheduling agreement will apply to the Pac-12 should they admit Mountain West members. Our Board of Directors is meeting to determine our next steps. The Mountain West has a proud 25-year history and will continue to thrive in the years ahead."

Commissioner praises four MWC schools' decision to join Pac-12

This move by the four Mountain West schools to join Pac-12 happens to be a significant step in saving the ex-P5 conference from fading away. Last year, almost ten of its member schools found new homes with lucrative media rights deals.

In a statement released after the move by the MWC schools to join the Pac-12 was confirmed, Commissioner Teresa Gould sounded optimistic about the future.

"For over a century, the Pac-12 Conference has been recognized as a leading brand in intercollegiate athletics," Gould's statement said. "We will continue to pursue bold cutting-edge opportunities for growth and progress, to best serve our member institutions and student-athletes.

"I am thankful to our board for their efforts to welcome Boise State University, Colorado State University, California State University, Fresno, and San Diego State University to the conference. An exciting new era for the Pac-12 Conference begins today," she added

Under the NCAA by-laws, all FBS conferences should have at least eight members to operate and the Pac-12 is under a two-year grace period to meet that particular requirement.