The loan would reportedly provide a maximum of $83 million for each university, per the San Jose Mercury News' Jon Wilner.
The Pac-12 is planning an extensive loan program with the 2020 college football season in jeopardy, according to The Mercury News' Jon Wilner.
Each university would be eligible for an $83 million loan if the 2020 season is canceled, per Wilner. The loans would be set with a 3.75% interest rate over the next 10 years.
The slate of loans could help universities avoid major revenue shortfalls in 2020 and beyond. Football programs across the Pac-12 generate "in excess of $50 million dollars in ticket sales and media rights," each year.
“All loan capacity is being used for things besides athletics," a source told Wilner. "They’re trying to get the core (academic) programs through for the next three years without firing people. If people have debt capacity, they should use it."
Not every Pac-12 school is required to participate in the program, per Wilner. Stanford and USC are unlikely to participate, and other public universities are likely to take "substantially less than the $83 million maximum."
The Pac-12 released its 2020 schedule on July 31. The conference is planning to use a conference-only schedule in 2020, with games slated to begin on Sept. 26.