‘Pac-2’ mailbag: Options for Washington State and Oregon State, finances of a MW merger, defining football relevance and more

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Rebuilding the Pac-12 will be expensive, but the Cougars and Beavers have ways to offset costs.

It seems expensive for the Pac-12 to poach Mountain West schools, but could the conference offset the penalty by reducing payouts to any new MW members? What valuation for ‘Pac-2’ media deal would justify MW schools paying an exit fee and possibly a temporary $1 million to $2 million reduction? — @TroutTyler

— Help from central campus, a path that obviously would require approval from the university presidents. A rebuilt league that features WSU, OSU and six arrivals from the MW would carry a different valuation than a rebuilt league that features Stanford and Cal or a rebuilt league that features selected schools from Conference USA or elsewhere.

If the new schools diverted $2 million annually to repay the MW over six years, for example, that would leave them with a new distribution amount that slightly exceeds that they are currently receiving from the MW — and it doesn’t cover the full departure fee of about $18 million.

For example, the Big 12 schools will receive an average of $31.7 million annually from the next media rights deal with Fox and ESPN. If the Big 12 expands again in the near term, it seemingly would target ACC schools if that league breaks apart. But what’s the mechanism? What series of events would lead to WSU and OSU receiving invitations from one of the Power Four?

However, the Pac-12 Network’s infrastructure could be put to use starting in the fall of 2026 if Washington State and Oregon State merge with the Mountain West in some fashion.

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