If the PAC distributes the $500M to each of the schools, they get a one time cash infusion of $41.67M dolla rs in year one. However, they are giving up 10% of the conference's income. Currently, each school gets $31.3M in income, giving the investors their 10% would drop each school's payout by about $3.2M a year. If their payouts go up 5% a year, not farfetched, starting in year 11 of the deal, each school would have forfeited $42.1M in total payouts for that initial cash infusion. By year 15, $62.5M in payouts for that $41.67M one time infusion. By year 20, almost $93M for that one time $41.67M.

Don't forget, this is ongoing since the private equity firm is buying into the "NewPAC12" entity, and the only way for the PAC to get out of it would be to buy them out or dissolve. If they dissolve, the PAC12 schools will be spending the next decade in courts over that.