Memphis, Tulane and South Florida are expected to announce they will continue with the American Athletic Conference after turning down serious interest from the Pac-12, sources told Yahoo Sports on Monday. UTSA, which has received an invitation from the Pac-12, is also expected to announce it will join the AAC.
After several days of discussions with the Pac-12, the schools decided as a group to remain in their current conference while AAC Commissioner Tim Pernetti explores avenues to increase revenue, including private equity involvement, new distribution models and further expansion of the league.
The four AAC programs received proposed terms from the Pac-12 on Monday, which included projected annual revenues ($10 million to $15 million), a five-year rights grant and a share of the AAC exit fee estimated at about $25 million per school. As Yahoo Sports reported Friday, none of this was unexpected.
The Pac-12 plans to continue recruiting new expansion members with the goal of adding more programs as Oregon State and Washington State reach eight members. Boise State, Colorado State, San Diego State and Fresno State joined the membership last week.
A group of potential expansion members, including UNLV and Utah State, have already seen the league’s expansion presentations.
Additionally, the Air Force has committed to remaining in the Mountain West Conference after discussions with the Pac-12.
MWC Commissioner Gloria Nevarez is trying to secure long-term commitments from member schools to the league, and the league set a deadline of Monday for schools to agree to new rights grants.