If you think figuring out the NCAA’s football rankings is confusing, just try determining the financial reward each university is likely reap in the upcoming bowl-game frenzy.

A series of NCAA rule changes, coupled with UCLA’s run for the national title, has made the process of assessing each school’s potential take an exercise in confusion.

Under the terms of a complex financial formula, all Pacific-10 conference colleges now share equally in any post-season proceeds that bowl-bound teams garner from TV rights and ticket sales to these contests.

For that reason, USC ironically could emerge as a big winner not only in spite of, but because of, its recent 34-17 defeat at the hands of crosstown rival UCLA.

Thanks to its currently undefeated season, UCLA is an odds-on contender to go to the Fiesta Bowl, the league’s national championship game, on Jan. 4 in Tempe, Ariz. The Bruins’ participation in that game would bring an estimated $10 million to the conference, according to Pac-10 Assistant Commissioner Duane Lindberg. That means about $1 million to each Pac-10 college.

With UCLA headed to the Fiesta Bowl, the Pac-10’s next winningest team, Arizona, is likely to go to the Rose Bowl an appearance that would bring an additional $6 million to the conference. Together, the two bowl games would bring some $1.6 million to each Pac-10 team.

If USC had not been beaten by UCLA last week, it would have dashed the Bruins’ championship hopes and sent the team to the Rose Bowl instead which would have brought $11 million to the conference, or $1.1 million per team. (According to league rules, the Rose Bowl take is reduced if more than one Pac-10 team participates in more than one bowl game.)

That means that by losing to UCLA, USC could come out $500,000 richer than if the Trojans had won.

Got it?

John C. Argue, president of the Los Angeles Sports Council, was bemused by the financial formula that gives winners the same share as losers in the Pac-10.

“It’s a little bit communistic,” he said. “The low man gets the same cut as the man on the top. But it’s an excellent policy. The teams that are having a hard time get as much money as the team on high.”

Such pooling of resources, he said, “is a healthy way to subsidize athletic programs.”

But the plot twists don’t end there.

This year, for the first time ever, the Rose Bowl which traditionally has pitted a Pac-10 team against a Big-12 team only is required to do so when the winners of those respective conferences are not playing for the national championship in the Fiesta Bowl.

Since the University of Wisconsin is undefeated and has already clinched the Big-12 title, it will definitely appear in the Rose Bowl. But if UCLA goes to the Fiesta Bowl, then Rose Bowl officials would be free to invite an independent team, rather than the Pac-10’s No. 2 team, Arizona.

A likely candidate is Notre Dame, which would generate more ticket sales and TV rights than Arizona. If the Fightin’ Irish go to Pasadena, they would get $10 million and wouldn’t have to split it with anyone.

A slight consolation is that USC is destined to go to one of three post-season games the Holiday Bowl, the Sun Bowl or the Aloha Bowl in Honolulu. Revenues from those games are minuscule compared to the majors Fiesta, Orange, Cotton, Rose and Sugar. USC would get $1.8 million for the Holiday Bowl, $1 million for the Sun Bowl, or $750,000 for the Aloha Bowl. After the team’s expenses are deducted, not much would remain for Pac-10 members to split.