The Pac-12 closes the door on one of Larry Scott’s more expensive follies.
The Pac-12 on Tuesday announced it’s leaving downtown San Francisco next year when its lease expires.
Where’s the new headquarters? Nowhere. There will be no conference office in the traditional sense, only a facility for content production.
Most employees will be allowed to work in fully remote fashion, a move that will save millions in rent annually and generate additional revenue for the campuses…
The conference paid approximately $8 million in occupancy for the San Francisco office space in the 2020 fiscal year, according to the most-recent financial documents available.
An undetermined fraction of that amount will support the production facility, with the remainder distributed to the schools — perhaps $500,000 to $750,000 per campus per year.
Just pissing money away. How Scott managed to keep his job — at a place that was steadily falling behind in the revenue race during his tenure — as long as he did is one of those little mysteries I’ll never understand.