Reports: UNLV, Air Force staying in MWC, will receive signing bonus worth $25-30 million from league

The latest twist in what’s been a chaotic, event-filled chapter of college realignment came on Wednesday night.

Air Force and UNLV will reportedly stay in the Mountain West Conference while receiving a significant financial bonus to do so.

Action Network’s Brett McMurphy was the first of several national reporters to report the news late Wednesday.

How much will UNLV, Air Force receive to stay in the Mountain West?

The Falcons and Rebels will receive a signing bonus worth between $25-30 million from the Mountain West to stay in the league, McMurphy reported.

The pending exit fees from the five MWC schools that have announced they will join the Pac-12 in 2026 will help pay the signing bonuses, according to McMurphy.

What does this mean for the MWC and the Pac-12 in conference realignment?

With Air Force and UNLV reportedly committed to staying in the MWC — an official announcement is expected Thursday, according to McMurphy — there are seven teams in the conference:

• Air Force
• Hawaii (football only)
• Nevada
• New Mexico
• San Jose State
• UNLV
• Wyoming

The Pac-12 also currently has seven schools committed to be a part of its conference beginning in 2026. They are:

• Oregon State
• Washington State
• Utah State
• Boise State
• Colorado State
• Fresno State
• San Diego State

The Pac-12 must have eight league members by 2026 to retain its status as an FBS conference. With Hawaii a football-only member of the league, the Mountain West needs to reach eight full-time members.

How did Utah State play a role in the latest conference realignment news?

On Tuesday, Utah State officially announced it had accepted an invitation to join the Pac-12.

That was the linchpin move that left both leagues with seven members and thus in need of one more to reach the requisite number of schools.

“This is a perfect moment for Utah State and our university to take pride in everything that we’ve accomplished,” Utah State athletic director Diana Sabau told the Deseret News on Wednesday. “The legacy and the allure of being an Aggie. It (Pac-12 membership) really proves our commitment to elevating USU athletics.”

Where is the money for the signing bonuses coming from?

On Monday, shortly after news broke that Utah State would be leaving the Mountain West for the Pac-12, several college football insiders reported that UNLV paused short of coming to a commitment to stay in the MWC and chose to explore its options.

Air Force, meanwhile, reportedly received interest as an expansion candidate from the American Athletic Conference, according to multiple national reports.

Wednesday’s move indicates that UNLV — one of the primary schools that the Pac-12 was hoping to add in the next round of realignment, per several national writers — is tied with its current conference, along with Air Force, after agreeing to a signing bonus that is worth four times more than the value of their annual media rights payouts, according to The Athletic’s Chris Vannini .

The Mountain West has an agreement from its seven remaining schools to stick together, Vannini reported, and each school will have “heavy financial incentives” coming their way, with Air Force and UNLV receiving the largest portions.

The MWC and Pac-12 had a scheduling agreement in place for 2024 that provided matchup opportunities for the two current Pac-12 teams — Oregon State and Washington State — against MWC schools to help fill out their schedules this season.

This came after 10 previous Pac-12 schools left for other conferences during the offseason, decimating the once-Power Five conference.

The Mountain West is expected to receive $155 million in exit fees and “poaching fees” tied to the scheduling agreement, paid both from the departing schools and the Pac-12, per McMurphy.

On Tuesday, though, the Pac-12 filed a lawsuit against the Mountain West saying it should not be required the MWC’s “poaching penalty,” as the Deseret News previously reported . That fee amounts to $55 million, according to McMurphy.