Canzano: 'Pac-2' tax numbers reveal survival picture
First tax filing released.
The meeting had the feel of a Shark Tank episode. This was late 2023, and Oliver Luck had been hired as a special consultant by Oregon State and Washington State. One of Luck’s primary directives was to kick the tires on the ‘Pac-2’ TV production facility and give a recommendation on whether it was a viable business.
Luck told me on Friday: “I left that thinking the Pac-12 had an asset other conferences would kill for.”
OSU Athletic Director Scott Barnes attended the meeting. So did the AD at WSU at the time, Pat Chun. They were running point on the survival mission. But the star guest on stage that day was Michael Molinari, a freelance producer with 30 years of experience in the industry.
The Pac-12 publicly released its Form 990 for the fiscal year ending June 2025 on Friday. It covers the first full year of finances for the embattled entity. It paints a picture of survival. The Pac-12 faced long odds and a mountain of uncertainty operating as a two-member conference.
There are some fascinating financial nuggets buried in it, including Commissioner George Kliavkoff’s severance, the Mountain West’s football scheduling fees, bowl revenue, and a ‘special projects’ expense. But one particular line item of the filing caught my eye.