Why is the Pac-12 feeling no pressure regarding media rights? Conference braces for a surprise that could shake up college football

The Pac-12 remains without a media rights deal as the conference's Media Day approaches. Pac-12 officials are reportedly in no rush to strike a deal, according to John Canzano.

"The Pac-12 in no hurry as Las Vegas looms. Conference acting like it knows something the rest of us don't. Said one member of the Pac-12 CEO Group: "The room just shifted.""

Check out John Canzano's tweet below:

While conference officials appear to be in no hurry, the upcoming media rights deal could have a large impact on the future of the Pac-12. The UCLA Bruins and USC Trojans have already announced their plans to leave the conference on July 1, 2024. Six of the remaining 10 schools have been in contact with either the Big Ten or Big 12, leaving the future of the conference in question.

Despite this, the conference remains in no hurry to get a deal done as Media Day in Las Vegas, Nevada approaches on July 21. While conference officials are reportedly hoping for a deal similar to the Big 12, there are doubts about whether they will receive such an offer.

Despite the lack of pressure felt by the Pac-12, the longer the situation drags on, the less leverage the conference has. While there is the possibility that a deal has already been completed, something that the lack of departure from the remaining 10 teams indicates, if there is no deal, the conference could be running out of options.

Could the expansion of the College Football Playoff affect the Pac-12 media rights deal?

The College Football Playoff field is set to expand from four to 12 teams in 2024. John Canzano recently explained how the expansion could factor into the Pac-12 media rights deal, stating:

"It could be that they've discovered a financial advantage to waiting another year to invite two new members. The College Football Playoff is expanding for the 2024 season. The new TV deal is going to bring a windfall to the conferences that participate. Is it possible the Pac-12 doesn't want to split those first-year shares 12 ways vs. 10?"

He continued:

"That it's waiting because doing so helps make up for the haircut they took in the Comcast overpayment fiasco? A veteran college administrator (not from the Pac-12) floated that theory to me on Friday as the news about San Diego State landed. He offered that being without Southern California as part of the Pac-12 for one football season wouldn't kill you on the recruiting or TV-deal fronts." [h/t Trojan Wire]

The Pac-12 has had just two appearances in the nine years of the College Football Playoff format. That will likely change with an expanded field in 2024, as three times as many teams will be in the postseason field. If the remaining 10 schools believe that holding off a deal will provide better long-term pay, then their decision to wait makes sense.