PULLMAN, Wash. — Jayathi Murthy, president of Oregon State University, and Kirk Schulz, president of Washington State University, released the following statement regarding the agreement in principle recently announced by all Pac-12 universities:
“In September, as the two remaining members of the Pac-12 Conference, Oregon State University and Washington State University were forced to act swiftly to protect the future viability of the Pac-12. Thanks to the determination and strength of Beaver Nation and Cougar Nation and the excellence of our student-athletes, coaches, and staff, we are now closer to achieving our goal.
Today’s news marks a huge victory for our universities and a significant step toward stabilizing the Pac-12 Conference and preserving its 108-year legacy. The departing schools have agreed to forfeit a portion of distributions over the remainder of the 2023–24 year and provide specific guarantees against potential future liabilities. The conference retains its assets and all future revenues. This agreement ensures that the future of the Pac-12 will be decided by the schools that are staying, not those that are leaving. We look forward to what the future holds for our universities, our student-athletes, the Pac-12 Conference, and millions of fans.”