The Pac-12 has hired global investment bank The Raine Group to assist the conference with its media-rights strategy. Raine Partner & co-Founder Joe Ravitch will lead the team working with the conference (Pac-12). In San Jose, Jon Wilner reports Raine is "charged with playing the role of matchmaker, helping the Pac-12 identify a long-term strategic partner." That partner will then "provide immediate cash to the schools and help the conference position itself for upcoming media rights deals." The Pac-12's current deals with ESPN, Fox and distributors of the Pac-12 Networks all expire in the summer of '24, meaning negotiations for the next round of deals "could begin as early as the fall of '22." The Portland Oregonian last month reported that the conference was looking for a potential investor, but Pac-12 Commissioner Larry Scott indicated that he hopes bringing Raine on board "does more than identify a source of cash." Scott: "We're most interested in a strategic partner that will help us prepare for 2024 and beyond. The ability to invest is a secondary consideration." Wilner notes the process of identifying a strategic partner "should take several months" (MERCURYNEWS.com, 1/28).
