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 Pac-12 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 Pac-12 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 Pac-12 public schools only, results for Gonzaga are not included.
Annual Operating Expenses – Pac-12 schools 2022-24:
Per 2024 EADA reporting, average annual athletic department operating costs were $ 63 million for current Pac-12 schools, a 14% increase in expenses over a 2-year span:
| Athletic Department Annual Expenses * | FY 2024 ($) | FY 2023 ($) | FY 2022 ($) | 2-year % Increase |
|---|---|---|---|---|
 | | | | |
| Boise State | 59,885,465 | 52,634,907 | 44,813,269 | 34% |
| Colorado State | 50,262,504 | 61,535,599 | 59,275,605 | -15% |
| Fresno State | 55,761,420 | 51,120,332 | 45,811,581 | 22% |
| Gonzaga | 38,587,088 | 36,995,886 | 33,631,607 | 15% |
| Oregon State | 112,813,895 | 97,792,784 | 87,727,179 | 29% |
| San Diego State | 83,949,123 | 96,611,757 | 67,245,917 | 25% |
| Texas State | 46,310,998 | 42,700,888 | 33,707,371 | 37% |
| Utah State | 42,936,608 | 45,575,192 | 43,035,302 | -0% |
| Washington State | 78,538,161 | 79,015,052 | 82,858,720 | -5% |
| Average per School ($) | 63,227,251 | 62,664,711 | 55,345,172 | 14% |
* Expenses per Equity in Athletics Act (EADA) annual reporting. These results are comparable to NCAA membership reporting with one primary exception – EADA reporting does not include payments made for athletic facilities debt service and leases. 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 