The PAC 12 signed an 11 year lease commencing sometime at the end of 2013 / beginning of 2014, with Kilroy for two floors in a downtown San Francisco office tower. My reasonable estimate is that the lease expires at the end of 2024. So, it looks like there’s about 3.5 years remaining on the high priced rent. We don’t know what the build out is, how easy it would be to sublease (likely hard with office space getting killed under covid), but I imagine that Kliavkoff and his team has looked at the economics and it made more sense to stay than go. Additionally, relocating can be difficult with existing staff that may be reluctant to relocate. Who knows? But I’m sure options have been explored. In any case, I’m also confident the HQ will be relocated a few months before the lease expires.
Personally, I think Oakland might be a better option than Vegas, but I think Oakland and Vegas are the two most likely landing spots.