Pac-12 targets expansion of Boise State, San Diego State, Fresno State and Colorado State: Sources

The two-member Pac-12 is seeking to rebuild, starting with four Mountain West schools.

Boise State, San Diego State, Colorado State and Fresno State are expected to apply for membership, and an announcement could come as early as Thursday, several people familiar with the situation said. The athleteYahoo Sports was the first to report on the move.

After conference realignment decimated the Pac-12 and left only Oregon State and Washington State, the league was left with few options. NCAA bylaws grant conferences a two-year grace period to get back to at least eight members. Adding those four would bring the league to six members for the 2026 season, and the momentum of this move could increase that number to eight or more in less time, including the possible addition of more Mountain West schools.

SOURCE: The Pac-12 is eyeing Boise State, San Diego State, Fresno State and Colorado State as expansion candidates. An announcement could come as soon as tomorrow. @TheAthletic has learned.

Reconstruction is underway. @RossDellenger reported for the first time.

— Chris Vannini (@ChrisVannini) 12 September 2024

It would be a costly move. For one thing, each school would have to pay a $17 million exit fee if it leaves more than a year in advance. Additionally, the agreement signed last year between the Pac-12 and Mountain West to admit four schools would require an additional payment totaling about $43 million. The agreement would have had no fees if the Pac-12 had admitted all 12 schools.

But the Pac-12 has a war chest worth at least tens of millions of dollars from the departure of 10 former schools and the settlement between the parties, which is likely to cover at least some of the total $111 million owed in Mountain West exit fees.

The four Mountain West schools expected to leave would join a 108-year-old conference whose history, brand and intellectual property are still valuable. The timing is good because the Mountain West's TV contract runs through 2026 and they are expected to earn more TV money in a rebuilt Pac-12 without the least valuable Mountain West schools. The Mountain West schools currently earn about $6 million per school annually through their TV contract, the second-highest among the Group of 5 leagues.

The relationship between the Pac-12 and Mountain West has become very icy in recent months, as The athlete has reported. Their attempt to extend the agreement to play in 2024-2025 failed, with money being the biggest sticking point. The Mountain West as a league felt it had the upper hand in the negotiations. Instead, the Pac-12 seems to be able to convince the Mountain West's most valuable schools to jump ship if the move is completed.

Those four schools are considered the Pac-12's biggest and most important targets, with future additions determined only after a core is created. The rebuilt league could stay regional with more Mountain West additions or try to expand nationally with teams from other Group of 5 conferences. Stanford and Cal remain tied to the ACC on the other side of the country, and Florida State and Clemson's lawsuits against the league show it's hard to get out of it (if Stanford and Cal even want to). But Oregon State and Washington State have long had their eyes on the ACC should it break apart.

It's perhaps no coincidence that the Pac-12 hopes to make the changes official this week. Oregon State hosts Oregon on Saturday, with the game broadcast on Fox, while Washington State and Washington face off on Peacock. With the biggest spotlight of the season on the two remaining schools because of their rivalry games, the discussion may now shift from pitying the country left behind in the realignment to a more positive narrative as the potential rebuild begins.

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