I'd really like to see where there is any evidence of this ownership. I am not being difficult, I seriously try to follow the business side of college football very closely and I've never seen this. Please send a link or PM me with what you find on this.
What I do know is that the official Pasadena Tournament of Roses Association is a tax-exempt organization that hosts and collects the majority of the revenues from the bowl game and parade (TV, some tickets, and sponsorship rights of both events). They pay the Rose Bowl Operating Company (RBOC) to maintain the stadium and operate the event. The RBOC is also a tax-exempt organization, and they collect the tickets, concessions, etc and pay for the upkeep and improvements on the stadium; as well as host other events throughout the year like concerts, etc at the stadium.
The Big Ten and Pac-12 are also tax-exempt organizations. This means that all entities are required to file Form 990 and make them publicly available. In the Form 990 there is a Schedule R that requires the organization to list all related-parties and any financial transactions between them.
In all of the Form 990's filed by the
Pasadena Tournament of Roses Association,
Rose Bowl Operating Company,
Big Ten Conference, and
Pac-12 Conference there is never any such relationship mentioned, nor any payments between the organizations other than as appearance fees when the conference's teams make the Rose Bowl game; but never any additional transactions or disclosures of a financial interest beyond that. None of the compensation paid out from the Rose Bowl (from either the Association or the Company) are paid to anyone linked to any of the conferences.
There is certainly a long-standing relationship among the three that is unique to the Rose Bowl and probably one of the best stories in college football history as it intersects many socio-political issues the country has faced over the last 100+ years. And none of what I have posted deters from the main point: expanding the playoff could face a major hurtle in the "Rose Bowl Alliance" (as it is commonly referred to but is not an official name). And as much as I would love to see an expanded playoff, I'll admit that the Rose Bowl is one of those crown jewels of college football that I'd hate to lose the tradition and reverie of.
If you find any articles, or otherwise, about the business relationships involved please post; I seriously am kind of a geek about this type of stuff.