Pac-12 shift from San Francisco office to work-from-home projected to save each member university $7 million over the next decade
The conference was paying $696,000 per month for its San Francisco office, as per John Canzano.
The conference was paying $696,000 per month for its San Francisco office, as per John Canzano.
Larry Scott, unsurprisingly, still doesn't get it.
What does this mean for the future of the Pac-12 Network and the conference's TV deals?
While the Pac-12's move to look at bringing in an external consultant feels logical and may fix some of the conference's issues, its biggest problem is its football struggles. And those can't be fixed by the central league office.
Some changes could be ahead at the Pac-12.
Nearly 100 people were either laid off or furloughed.
A loan against future media rights might make some sense for some Pac-12 members, but there are some questions remaining here.
Pac-12 cuts include laying off around 12 full-time Pac-12 Networks staffers, implementing a hiring freeze at both the networks and the conference, and reducing the salaries of commissioner Larry Scott and senior staffers by 20 and 10 percent respectively.
“A lot of people behind the scenes believed in the conference’s message four years ago and we’ve watched as the vision for the network has slowly died.”
A strategic partnership with a media or tech company remains possible going forward, though.
The Pac-12 Networks' total revenue is expected to drop six percent ($8.1 million) year-over-year in 2019, with net advertising revenue falling 22 percent and digital revenue plummeting 30 percent.
Scott's pricey hotel room in Vegas is just the latest negative story about him.
The Pac-12's valuation of $5 billion for the conference (so $500 million for a 10 percent share) appears quite optimistic, according to a long-time hedge fund manager asked to evaluate it.