Oregon State University President Murthy and Vice President Barnes released a statement regarding the Pac-12 on Tuesday morning. 

On the whole, the statement focused on OSU’s commitment to its students and the financial burden that the loss of ten Pac-12 teams will cause for OSU, student-athletes, and the surrounding communities.

“Looking ahead to fiscal year 2025, we expect that total revenue to OSU Athletics could decline by as much as 44 percent,” stated Murthy and Barnes.

As stated, that percentage harms athletes and everyone working in the athletics department.

They said that the most important part of this transition is to keep everyone in mind, which includes keeping athletic scholarship funds up and seeking revenue from public and philanthropic sources. 

They also stated that COVID-19 saw an advance of $31.8M to OSU athletics due to loss of income from the lockdown. However, it was ensured that repaying this debt would not come out of students’ tuition costs, and they would instead look to other sources. 

The Pac-12 departures also lay a heavy burden on the community around OSU.

Murthy and Barnes stated that “in Corvallis alone, early estimates show millions of dollars in potential lost revenue to the local travel and hospitality industry – not to mention the lost tax revenue to the city and county.”

The decline of visitors to OSU games will see a decline in revenue not just to the university but to the community as well.

“Among our elected representatives, we have supporters who may help by providing funding to sustain the strength of our athletics program and the support we provide to student-athletes and local economies,” stated Murthy and Barnes. 

President Murthy and Vice President Barnes will speak with Oregon Legislatures this Thursday to discuss the financial future OSU faces.