In the 1983 comedy classic Trading Places, Billy Ray Valentine is a street-smart hustler who becomes a commodities trader. In a pivotal scene, Valentines advises Mortimer and Randolph Duke to hold off on buying pork belly commodities contracts because owners are panic-selling.
Valentine advising patience ends up saving the Dukes a ton of money and announces his arrival as a financial savant. Pac-12 leaders would be wise to heed Valentine’s advise today.
Greg Swaim is reporting Arizona State, Arizona, and Colorado already agreed to join the Big 12 in principle.
#Big12 word out of Dallas is that while nothing official yet, the #Buffs, #BearDown and #SunDevils in already in principle. You'll likely see this in tomorrow's newspaper in Denver, Tucson and Tempe. #Ducks still holding out for a #B1G offer that will likely never come.
— GREG SWAIM SHOW (@GSwaim) July 7, 2022
If Swaim’s report is true, UA, CU, and ASU officials are the pork belly owners panicking and selling at the bottom. UCLA and USC don’t leave the Pac-12 for the B1G until 2024. The remaining Pac-12 schools (and everyone in the ACC and Big 12) have two years to figure out what their future is and where they want to be in 2024 and moving forward.
Patience Is A Virtue
Notre Dame is still the Holy Grail in conference realignment. As long as the Irish remain content to sit in the ACC, there is no movement taking place. The B1G Conference is waiting on Notre Dame to make a decision on whether to join their conference and they appear happy to wait two years. The B1G is being patient, Notre Dame is patient, Pac-12 leaders need to be patient.
The inclination to panic is understandable. You’re talking about people’s financial futures and their jobs. If you’re in an athletic department that drops from P5 to G5 status, you’re looking at a severe drop in television revenue. A revenue drop means a reduction in staff and staff reductions mean people lose their jobs.
Right now, Notre Dame isn’t going anywhere and Oregon and Washington are staying in the Pac-12. If Oregon and Washington are in the Pac-12, there is no reason to panic-sell your way into a new conference.
Take Billy Ray Valetine’s advice, Pac-12 leaders. You’re going to be able to buy the G.I. Joe with the Kung Fu Grip. Stay patient, and don’t sell at the bottom.