Is Larry Scott Leaving?
Larry Scott’s tenure as Pac-12 commissioner could be coming to an end because of the coronavirus pandemic, according to The Oregonian.
John Canzano cites multiple Pac-12 employees and members of the CEO group, who say the only way for the conference and the Pac-12 networks to survive the pandemic is to cut costs.
A large one is Scott’s $5.3 million yearly salary.
“There’s serious talk amongst the Pac-12 CEO Group,” one high-level conference administrator told Canzano. “To end his contract ahead of the expiration date to have a fighting chance to save the (conference) Networks.”
Canzano says employees of the Pac-12 conference and networks were asked to take a five to ten percent pay cut if they earned $100,000 or more. Scott agreed to take a twelve percent pay cut.
In addition to cutting salaries, the Pac-12 CEO group has asked the networks and conference to cut overall costs by nine percent and tap into the conference’s reserves to offset some of the losses.
The $22.5 million reserves were created at the beginning of the 2010s to account for “Unusual and Extraordinary Events”. According to Jon Wilner at the San Jose Mercury News, the conference expects to use that funding to offset as much as $15.5 million in lost revenue.
Scott’s time as the commissioner for the Pac-12 has been criticized by many for what they call poor decision making regarding the conference’s funds. The Pac-12 pays more than $8 million in rent for their San Francisco headquarters—headquarters that are now mostly empty because of the pandemic. Both the rent for the headquarters and Scott’s salary are the highest among any power five conference in the country.
Barring a buyout, Scott’s contract is set to expire the summer of 2022.