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If UCLA thought it could just ditch the Pac-12 for the Big Ten and not face any repercussions, the university has another thing coming.
University of California president Michael V. Drake recommended the Bruins pay Cal $10 million a year through 2029-30 for leaving the Golden Bears high and dry when bolting for the Big Ten.
And, since UCLA is technically a branch of the University of California, it’s hard to imagine any way UCLA gets out of it.
The UC Regents have recommended that UCLA pay Cal $10 million a year in Calimony through 2029-30.
— Ben Bolch (@latbbolch) May 10, 2024
“This is a materially different outcome for UC Berkeley than what was projected in December 2022 when there was still optimism about the follow-on Pac-12 media rights deal,” Drake wrote in the letter suggesting the maximum possible subsidy.
Calimony Payments Should Put UCLA And Cal On Level Footing
Cal signed a deal with the ACC shortly after UCLA left for the Big Ten. But the difference in projected revenue is still significant.
“While universities and colleges are still in tumultuous times with an unsettled landscape in college athletics, there is some clarity on projected media rights revenues in the near term,” Drake continued. “It is anticipated that there will be an approximately $50 million difference between UCLA’s Big Ten contract and UC Berkeley’s agreement with the ACC. As a result, the President is proposing that UCLA contribute $10 million a year to UC Berkeley, the top end of the range
established by the Regents in December 2022.”
That’s a lot of dough!
Whether or not UCLA has any recourse remains to be seen.
Gene Block serves as the chancellor for the school. But he still operates under the purview of the UC system and Drake. So there may well be little in the number of ways he can combat the ruling.
If that’s the case, it will significantly hinder UCLA going forward. While making Cal much more financially stable in the ACC.