Pac-12 near collapse with Oregon and Washington headed to Big Ten, per reports

The latest exit signals the end of the Pac-12 as we know it

Colorado started a trend by moving over to the Big 12. Now, Oregon and Washington are finalizing a deal to join the Big Ten, according to sources close to both schools. A move that could be the end of the Pac-12 as a Power Five conference.

Washington is the only Pac-12 school to crack the top ten in athletic revenue, but Oregon isn't far behind as the top two money makers for the conference. The schools are expected to formally apply for membership Friday, and the Big Ten will vote to grant them membership.

Both Oregon and Washington are expected to join the Big Ten starting in 2024. They'll join USC and UCLA, who announced the move out last year. It leaves the Pac-12 needing six teams to make up the losses. Arizona will join Colorado in the Big 12 next year as well.

It's unclear what Oregon or Washington will receive from a projected revenue share as members of the Big Ten. Colorado is scheduled to pick up $31.7 million from the Big 12 in 2024.

The addition of four Pac-12 schools means the Big Ten will expand to eighteen next year. Don't be surprised if two more schools are added, bringing the total to 20.

The century-old conference based on the Pacific Coast is now left in a state of ruin. Arizona State and Utah aren't likely to stick around, but reportedly don't have a clear path out. While Oregon State, Washington State, Stanford, and Cal are holding out hope the bleeding can stop. However, the Pac-12 can't add any Mountain West schools to the league in 2024, as there is a $32 million exit fee per Mountain West school to leave before the start of the 2025 football season, according to ESPN's Pete Thamel. 

The Pac-12's television deal expires after the 2023-24 school year without a renewal currently in place. A proposal from Apple TV for a subscriber-based streaming option doesn't seem likely without Washington and Oregon.