Larry Scott will be the Pac-12 commissioner through at least 2017-18

This was a long-time coming, but it's official now. Larry Scott will be the commissioner of the Pac-12 for the next five years.

Since succeeding Tom Hansen, the Pac-12 conference has taken bold steps forward in producing a superior product. Scott has been instrumental in ensuring that his product has expended its marketability.

• They have expanded from ten teams to twelve, kickstarting the incredible wave of expansion that is still reverberating throughout the college football landscape.
• They have created a conference championship game that helps ensure the Pac-12 much needed revenue. They have moved their basketball tournament to Las Vegas to ensure a more fan-friendly experience.
  
• They have launched their own TV network that showcases the wide range of superior sports that the conference boasts. They have placed their headquarters in San Francisco, giving them a unique angle on the digital age.
  
• The large TV revenues produced by their football and basketball contracts with ESPN and FOX have helped earmark the renovation and modernization of numerous athletic facilities throughout the conference.
  
• They're going international, and are ready to make sure their sports become worldwide showcases.

Here's the press release for Scott's extension.

WALNUT CREEK, Calif. – The Pac-12 CEO Group announced today that it has extended Commissioner Larry Scott’s contract through the academic year of 2017-2018. As part of the extension, the CEO Group – made up of the 12 university presidents and chancellors – also named Scott as the Executive Chairman of Pac-12 Enterprises.

In just over four years as Commissioner, Scott has transformed the Pac-12 into a modern Conference that is setting the standard in collegiate athletics with its athletic success and contribution to its member institutions. In 2012, with strong support from the leadership of the Conference’s member institutions, Scott created Pac-12 Networks, distinguishing the Pac-12 as the only collegiate conference to wholly own and operate its own media platform.

“On behalf of the entire Pac-12 Board of Directors, we are delighted to announce a contract extension with Larry and the new title of Pac-12 Commissioner and Executive Chairman of Pac-12 Enterprises,” said Dr. Elson S. Floyd, President of Washington State University and Chair of the Pac-12 CEO Group. “Larry’s leadership and vision is critical as we realize our tremendous potential as a Conference built on a firm foundation of academic excellence and superior athletic achievement. Pac-12 Enterprises will continue to provide exposure to our athletic programs, student-athletes in all sports, and world-renowned academic programs, as well as deliver long-term financial value for our institutions to help fulfill our core academic missions.”

Scott became the sixth commissioner of the Conference on July 1, 2009. Scott has led the Conference through expansion for the first time since 1978 by successfully adding Colorado and Utah, created a Football Championship Game, transformed the Pac-12 basketball tournaments into must-attend events, secured agreement for equal revenue sharing, delivered a landmark media rights agreement with ESPN and Fox, and created Pac-12 Networks.

"I am honored and gratified by the support from the CEO Group of our great institutions," Scott said. "We have reached a number of key milestones in the past four years and none of this would have been possible without the vision and commitment of our board."

Scott has also led a rebranding of the Conference, and launched the Pac-12 Globalization Initiative as a way to proactively promote the Conference and member institutions through student-athlete exchanges and sport. In its first two years, Pac-12 student-athletes have enjoyed unique cultural and athletic experiences in China, and the Conference and its member institutions have gained significant brand exposure for the future.