Pac-12 fires senior executives following investigation into failure to report overpayments from media partners
The Pac-12 on Friday terminated the employment of two senior executives for failing to disclose overpayments by a media distribution partner to the Pac-12 Networks that made the networks’ annual revenue appear more robust than it was.
An audit, directed by the Pac-12 in 2017, concluded that “one of the Pac-12 distribution partners had overpaid the Pac-12 Networks for the year 2016 by a material amount,” according to information released by the conference. Hired in the summer of 2021, Kliavkoff was made aware of the situation this October. The Pac-12’s audit committee brought in Cooley LLP, based in Palo Alto, to conduct an investigation.Cooley completed the investigation in January and determined “these executives failed in their obligations and duties to immediately disclose this information related to an immediate and material financial risk to the Pac-12.
— The two Pac-12 executives whose employment were terminated today were made aware of the audit results in late December 2017. — As soon as the distribution partner notified the Pac-12, the Pac-12 began looking into the claims, and determined that the Pac-12 should bring in independent legal counsel to review the facts of the situation
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