Pac-12 announces firing of 2 executives following investigation regarding overpayments
The Pac-12 has fired a pair of senior executives, the conference announced via a statement on Friday.
According to the release from the Pac-12, the executives were fired following an investigation that detailed a series of overpayments by a Pac-12 Networks distribution partner. Those overpayments dated back to 2016.
The Pac-12 also revealed the distribution partner claimed the overpayments totaled more than $50 million:
Earlier today, the Pac-12 terminated the employment of two senior executives, effective immediately. This action was taken following an investigation conducted by independent outside legal counsel. The terminations resulted from a failure by those two executives to disclose material information to the Pac-12 Board of Directors and external Pac-12 auditors in connection with overpayments by a Pac-12 Networks distribution partner dating back to 2016.
An investigation into the matter was concluded on Jan. 13 and determined the pair of executives failed in their obligations to disclose the information of “an immediate and material financial risk to the Pac-12” to either the conference’s Board of Directors or the external auditors. Both firings are effective as of Jan. 20.