UC Regents meeting results or official announcements

UC Regents Mandate UCLA to Pay Cal $10M Annually for 3 Years Starting May 14

May 14, 2024, 11:06 PM

The University of California (UC) Board of Regents has voted on May 14 to mandate that UCLA pay Cal Berkeley $10 million annually for three years as a subsidy. This decision comes as a result of UCLA's departure from the Pac-12 to join the Big Ten conference. The original recommendation from UC President Michael V. Drake was for a maximum annual subsidy over seven years, but the Regents decided on a shorter timeframe. The payments, often referred to as 'Calimony,' are intended to offset the financial disparities between UCLA's new Big Ten contract and Cal Berkeley's agreement with the ACC. The UC Regents voted 7-1 in favor of the three-year subsidy, with a review scheduled at the end of this period in 2026-27.