Andrew Marchand is on record saying that the PAC and ESPN were "hundreds of millions apart", and by that quote even $25m per school could be generous. Scheer is less reputable than Marchland, but he independently reported that the ESPN offer was $24.5m per school, and he was talking about this well before Marchland.
To say that the PAC will definitely improve on $25m seems far from a foregone conclusion, especially if UO and UW are unwilling to sign a GOR.