The conference suffered an expected but massive blow with a shortened football season and significant COVID testing costs.
A once-in-a-century pandemic resulted in a once-in-a-decade revenue hit for the Pac-12 and its member universities.
The revenue plunge caused by COVID and the truncated 2020 football season resulted in the conference distributing an average of $19.8 million to each school, a drop of 41 percent from the prior year , when the pandemic had a negligible fiscal impact. “We are encouraged by the substantial return to pre-pandemic levels of revenue and distributions that our 2021-22 financial results will show when reported this coming year.”The Pac-12 spent $5.3 million on COVID tests by Quidel, the San Diego-based diagnostics company whose rapid antigen tests allowed the conference to restart its football season in early November of 2020 — weeks after the Big Ten restarted and two months after the Big 12, SEC and ACC began play.
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