After an hour or so of build-up, Brett McMurphy of Action Network broke the news that Colorado is leaving the Pac-12 to return to the Big 12 in 2024.
However, the move still has to be approved by CU’s board of regents, which has a scheduled public meeting on Thursday afternoon. If the vote to leave the Pac-12 passes, an official announcement is expected to follow.
McMurphy’s report stated that CU will receive $31.7 million annually in media rights revenue once the conference’s ESPN/Fox media rights deal begins in 2025. Colorado is also set to receive a “full” share of revenue (approximately $42 million) in 2024, he said.
The primary reasons for Colorado’s move, his sources said, were because of the Big 12’s expected “stability” and the Pac-12’s “uncertainty.”
Colorado leaving Pac-12 to return to Big 12 in 2024, sources told @ActionNetworkHQ. CU will receive full Big 12 share ($31.7M) from ESPN/Fox media deal. Buffs left because of Big 12 stability & Pac-12’s uncertainty, sources said. Announcement Thursdayhttps://t.co/IOo8LWAuTF pic.twitter.com/4Ilq91C0EO
— Brett McMurphy (@Brett_McMurphy) July 26, 2023
Colorado was a member of the Big 12 Conference (including its time as the Big Eight and Big Seven) from 1948 until the university joined the Pac-12 prior to the 2011-12 academic year.
Colorado chancellor Phil DiStefano told The Denver Post last week that the “goal” was to stay Pac-12 members. But with the Pac-12 still yet to announce a media rights deal, the Buffs are now primed to join the Big 12.
Contact/Follow us @BuffaloesWire on Twitter, and like our page on Facebook to follow ongoing coverage of Colorado news, notes and opinions.
[lawrence-auto-related count=3 category=26]