The rebuilding Pac-12 Conference, having recently added Texas State as its eighth football-playing member for the 2026 launch, is likely to continue exploring expansion, and Memphis and Tulane from the American Athletic Conference (AAC) remain prominent targets.

Here's why these two schools are appealing to the new Pac-12:

1. Financial Upgrade and Media Value:

Higher Payouts: While the AAC's media deal provides its core members like Memphis and Tulane around $7-11 million annually (depending on how various revenue streams are counted), the new Pac-12's recently secured deal with CBS Sports is expected to pay its schools at least $7 million per year, with the potential to reach higher, perhaps $10-12 million per school for media rights alone. This would represent a significant financial upgrade for both Memphis and Tulane, who are looking to maximize their revenue in the ever-escalating college sports landscape.
National Exposure: The Pac-12, even in its new form, carries a "Power Conference" legacy and aims to secure widespread linear TV exposure through its deals. This is often more attractive than the heavy reliance on streaming (like ESPN+) that the AAC has experienced, which can limit national brand building.
2. Athletic Prowess and Brand Recognition:

Memphis: The Tigers boast a strong basketball program with a rich history and a consistently competitive football program. Their athletics program was recently rated among the top 75 most valuable in the country by CNBC, putting them in the same tier as some of the Pac-2 holdovers. Adding Memphis gives the Pac-12 a presence in a significant media market and a strong athletic brand.
Tulane: The Green Wave has seen a remarkable resurgence in football in recent years, including a Cotton Bowl victory. They also have a respected academic profile and are located in the vibrant New Orleans market. Tulane's athletic department has also been proactive in the NIL space, securing substantial donations to bolster its athlete compensation efforts.

3. Strategic Geographic Footprint:

Adding Memphis and/or Tulane would further expand the Pac-12's reach into the Southeast. With Texas State already anchoring the conference in Texas, adding schools in Tennessee and Louisiana would provide valuable geographic diversity, potentially opening up new recruiting pipelines and fan bases beyond their traditional western focus.
4. The "Clear No. 5 Conference" Ambition:

The rebuilt Pac-12 aims to solidify its position as the "clear No. 5 conference" in college sports, distinct from the other Group of Five leagues. By selectively adding strong brands with competitive athletic programs like Memphis and Tulane, the Pac-12 seeks to bolster its overall profile and maintain a level of perceived superiority that could lead to better future media deals and College Football Playoff access.
While both Memphis and Tulane previously "reaffirmed their commitment" to the AAC when the Pac-12's future was highly uncertain, the landscape has shifted. The Pac-12 now has a finalized core, a media deal, and a clear path forward. The significant financial and exposure benefits could be enough to entice these AAC stalwarts to consider a jump, despite potential AAC exit fees (which for Memphis, are reportedly $10 million with a 27-month notice period). Discussions between the Pac-12 and Memphis have reportedly been ongoing, with the possibility of Memphis becoming a football-only member, with other sports joining the Big East.

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