Conference Members
2026-27
2025-26
Boise State Pac-12 Mountain West
Colorado State Pac-12 Mountain West
Fresno State Pac-12 Mountain West
Gonzaga Pac-12 West Coast
Oregon State Pac-12 Pac-12
San Diego State Pac-12 Mountain West
Texas State Pac-12 Sun Belt
Utah State Pac-12 Mountain West
Washington State Pac-12 Pac-12
Total Members 9 2
Ten schools departed the Pac-12 in 2024, primarily due to difficulties in securing an acceptable media deal. Originally given up for dead, not only does the Pac-12 still exist, it has added scrappy, fast-growing schools and could end up becoming the sweet spot conference in the NIL / revenue sharing era.
2025 Net Operating Losses: Pac-12 Schools
Pac-12 athletic departments averaged a net operating loss of $ 41 million per school in 2025. Operating losses were funded by booster contributions averaging $ 15 million per school and combined school support and student fees averaging $ 30 million per school:
2025 Operating Losses ($) Pac-12 Public Schools * | Operating Revenue | Operating Expenses | Operating Loss 2025 | Contributions | Student Fees & School Support | Endowment & Investment | Surplus (Deficit) |
|
|---|---|---|---|---|---|---|---|---|
| Boise State | 48,391,590 | 75,586,706 | -27,195,116 | 23,941,473 | 22,351,301 | 867,160 | 19,964,818 | |
| Colorado State | 30,340,402 | 75,239,063 | -44,898,661 | 12,006,438 | 32,141,753 | 248,534 | -501,936 | |
| Fresno State | 25,982,428 | 56,108,751 | -30,126,323 | 13,169,118 | 22,589,783 | 19,859 | 5,652,437 | |
| Oregon State | 57,423,115 | 100,306,455 | -42,883,340 | 15,842,263 | 31,502,329 | - | 4,461,252 | |
| San Diego State | 39,922,146 | 104,868,538 | -64,946,392 | 25,126,061 | 35,587,175 | 165,638 | -4,067,518 | |
| Texas State | 11,027,246 | 55,517,565 | -44,490,319 | 5,261,166 | 33,621,910 | 618,497 | -4,988,746 | |
| Utah State | 21,744,326 | 64,576,877 | -42,832,551 | 10,982,893 | 41,958,336 | 756,972 | 10,865,650 | |
| Washington State | 51,891,699 | 80,749,746 | -28,858,047 | 11,366,058 | 19,202,432 | 994,761 | 2,705,204 | |
| Average per School ($) | 35,840,369 | 76,619,213 | -40,778,844 | 14,711,934 | 29,869,377 | 458,928 | 4,261,395 |
* Data available for public schools only, results for Gonzaga are not included.
** Operating revenues for Oregon State & Washington State include distributions from “old” Pac-12 funds.
2025 Operating Revenues: Pac-12 Schools
Operating Revenues ($) Pac-12 Schools 2025 * | Total Revenue | Ticket Sales | Media Rights | Post Season Distributions | NCAA & Other Distributions | Bowl Game Revenues | Licenses & Sponsorships | Game Day & Concessions | Game Guarantees | Other Revenue |
|
|---|---|---|---|---|---|---|---|---|---|---|---|
| Boise State | 48,391,590 | 8,968,578 | 5,249,920 | 791,695 | 8,548,208 | 5,602,135 | 8,595,204 | 700,694 | 1,302,909 | 8,632,247 | |
| Colorado State | 30,340,402 | 8,170,431 | 3,449,920 | - | 4,724,854 | 103,960 | 6,702,402 | 2,840,406 | 1,808,047 | 2,540,382 | |
| Fresno State | 25,982,428 | 7,185,896 | 3,449,920 | 118,705 | 4,750,460 | 609,200 | 4,421,200 | 1,379,338 | 3,503,790 | 563,919 | |
| Oregon State ** | 57,423,115 | 12,476,011 | 3,015,108 | - | 25,277,236 | - | 10,472,846 | 3,113,388 | 405,728 | 2,662,798 | |
| San Diego State | 39,922,146 | 8,012,878 | 3,449,920 | - | 5,138,587 | - | 13,473,106 | 2,489,311 | 280,000 | 7,078,344 | |
| Texas State | 11,027,246 | 2,113,016 | 360,937 | 1,265,645 | 1,287,892 | 488,578 | 2,684,346 | 468,563 | 950,500 | 1,407,769 | |
| Utah State | 21,744,326 | 3,466,488 | 3,449,920 | 1,997,785 | 6,067,398 | 118,705 | 3,087,240 | 95,000 | 1,900,937 | 1,560,853 | |
| Washington State ** | 51,891,699 | 9,250,474 | 1,500,000 | - | 27,676,671 | 726,409 | 4,513,949 | 507,488 | 115,000 | 7,601,708 | |
| Average per School ($) | 35,840,369 | 7,455,472 | 2,990,706 | 521,729 | 10,433,913 | 956,123 | 6,743,787 | 1,449,274 | 1,283,364 | 4,006,003 |
* Data available for public schools only, results for Gonzaga are not included.
** Operating revenues for Oregon State & Washington State include distributions from “old” Pac-12 funds.
2025 Operating Expenses: Pac-12 Schools
Operating Expenses ($) Pac-12 Schools 2025 * | Total Expenses | Coaching Salaries | Admin Salaries | Athletic Scholarships | Game Guarantees | Severance Payments | Recruiting | Team Travel | Uniforms & Equipment | Game Day Expenses | Marketing & Fundraising | Athletic facility debt service, rents & leases | Athletic facility operating costs | Athlete Medical | Athlete Meals | Post-season Expenses | Alston & other Educ benefits | Overhead & Administration | Other Oper Expenses |
|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Boise State | 75,586,706 | 13,119,996 | 14,006,422 | 11,128,675 | 1,138,188 | 876,050 | 1,321,519 | 6,177,873 | 2,354,391 | 2,182,142 | 1,032,264 | 3,331,973 | 1,687,280 | 1,015,535 | 1,343,489 | 3,196,103 | 321,900 | 6,230,087 | 5,122,819 | |
| Colorado State | 75,239,063 | 12,743,030 | 10,158,124 | 10,931,302 | 941,035 | - | 1,258,088 | 3,738,947 | 2,319,201 | 4,791,768 | 1,062,989 | 14,335,138 | 2,951,568 | 709,189 | 839,410 | 2,141,730 | 215,250 | 2,146,635 | 3,955,659 | |
| Fresno State | 56,108,751 | 11,216,276 | 10,678,306 | 8,053,470 | 1,338,844 | 1,079,222 | 1,124,862 | 4,137,860 | 2,132,018 | 3,892,844 | 763,673 | 297,557 | 1,727,953 | 1,754,137 | 1,557,165 | 1,238,148 | - | 2,342,907 | 2,773,509 | |
| Oregon State | 100,306,455 | 20,057,401 | 15,688,193 | 11,327,974 | 1,858,500 | 366,797 | 1,789,712 | 5,905,166 | 3,073,215 | 4,873,123 | 2,117,060 | 8,503,179 | 4,356,184 | 1,715,361 | 2,402,272 | 1,829,244 | 1,289,722 | 11,587,877 | 1,565,475 | |
| San Diego State | 104,868,538 | 17,382,452 | 16,762,001 | 11,111,128 | 992,679 | 703,985 | 1,510,132 | 5,043,318 | 3,864,330 | 3,661,625 | 5,152,252 | 19,964,112 | - | 1,241,160 | 1,295,562 | - | - | 11,754,314 | 4,429,488 | |
| Texas State | 55,517,565 | 7,701,270 | 6,947,177 | 8,120,202 | 719,551 | - | 1,023,487 | 3,671,441 | 2,109,674 | 1,878,177 | 966,612 | 8,163,868 | 4,675,885 | 692,578 | 1,653,045 | 1,155,215 | 1,037,730 | 4,273,522 | 728,131 | |
| Utah State | 64,576,877 | 16,455,403 | 6,850,118 | 7,568,352 | 773,541 | 634,738 | 959,340 | 4,479,693 | 2,646,759 | 1,658,395 | 525,526 | 3,820,854 | - | 878,734 | 1,324,751 | - | 1,397,025 | 10,337,197 | 4,266,451 | |
| Washington State | 80,749,746 | 12,685,486 | 13,432,679 | 12,360,402 | 2,057,080 | - | 1,664,224 | 5,083,307 | 2,787,738 | 2,771,083 | 1,297,962 | 11,246,400 | - | 1,778,055 | 991,850 | 2,298,486 | 334,951 | 2,461,177 | 7,498,866 | |
| Average per School ($) | 76,619,213 | 13,920,164 | 11,815,378 | 10,075,188 | 1,227,427 | 457,599 | 1,331,421 | 4,779,701 | 2,660,916 | 3,213,645 | 1,614,792 | 8,707,885 | 1,924,859 | 1,223,094 | 1,425,943 | 1,482,366 | 574,572 | 6,391,715 | 3,792,550 |
* Data available for public schools only, results for Gonzaga are not included.
Annual Operating Expenses – Pac-12 schools 2022-25:
Per EADA (aka Title IX) reporting, average 2025 athletic department operating costs were $ 65 million for Pac-12 schools, an 18% increase in expenses over a 3-year span:
| Athletic Department Annual Expenses * | FY 2025 ($) | FY 2024 ($) | FY 2023 ($) | FY 2022 ($) | 3-year % Increase |
|---|---|---|---|---|---|
| Oregon State | 100,306,447 | 112,813,895 | 97,792,784 | 87,727,179 | 14% |
| San Diego State | 89,827,012 | 83,949,123 | 96,611,757 | 67,245,917 | 34% |
| Boise State | 69,810,118 | 59,885,465 | 52,634,907 | 44,813,269 | 56% |
| Washington State | 68,573,910 | 78,538,161 | 79,015,052 | 82,858,720 | -17% |
| Fresno State | 63,439,685 | 55,761,420 | 51,120,332 | 45,811,581 | 38% |
| Colorado State | 55,794,198 | 50,262,504 | 61,535,599 | 59,275,605 | -6% |
| Texas State | 52,238,898 | 46,310,998 | 42,700,888 | 33,707,371 | 55% |
| Utah State | 48,349,839 | 42,936,608 | 45,575,192 | 43,035,302 | 12% |
| Gonzaga | 40,467,847 | 38,587,088 | 36,995,886 | 33,631,607 | 20% |
 | |||||
| Average per School ($) | 65,423,106 | 63,227,251 | 62,664,711 | 55,345,172 | 18% |
* Expenses per Equity in Athletics Act (EADA) annual reporting. EADA differs from NCAA reporting for a few reasons. First, conference averages will differ as EADA reporting includes all schools (public and private) while NCAA reporting is typically available only for public schools. Expense reporting also differs in some areas, with the primary difference being that EADA reporting does not require disclosure of payments made for athletic facilities debt service and leases. Consequently, EADA reporting typically results in lower annual expenses than NCAA reporting at most schools. See our methodology page for more detail and disclosures.
Listing of Pac-12 NIL Collectives by School:
| School | Collective(s) | |
|---|---|---|
| Oregon State | Dam Nation Collective | |
| Washington State | Cougar Collective |
Questions on our data? Contact us at: NIL-NCAA.com
Statistics compiled & edited by Patrick O’Rourke, CPA Washington, DC 