The ACC announced Tuesday that it has settled the ongoing lawsuits with Clemson University and Florida State University.
Per the release, the resolution results in Clemson and Florida State remaining full members of the ACC, and the parties will dismiss all pending lawsuits in the states of Florida, North Carolina and South Carolina.
“Today’s resolution begins the next chapter of this storied league and further solidifies the ACC as a premier conference,” said ACC Commissioner Jim Phillips, Ph.D. “As we look ahead to our collective long-term future, I want to express my deepest appreciation to the ACC Board of Directors for its ongoing leadership, patience and dedication throughout this process. The league has competed at the highest level for more than 70 years and this new structure demonstrates the ACC embracing innovation and further incentivizing our membership based on competition and viewership results. The settlements, coupled with the ACC’s continued partnership with ESPN, allow us to focus on our collective future – including Clemson and Florida State – united in an 18-member conference demonstrating the best in intercollegiate athletics.”
Per the settlement, the parties agreed to a new revenue-distribution strategy:
The new revenue-distribution strategy, as proposed in the settlement, would distribute 40% of the television money evenly through the 14 longstanding ACC members — including Florida State and Clemson — with 60% of the revenue distributed on a ratings-based formula from the past five years.
In addition, the total cost to exit the ACC is expected to decline by $18 million each year through 2029-30. After that period, the fee drops to $75 million and any exiting program will retain its media rights with the league.
“This settlement allows Clemson to remain nationally competitive at the highest levels and also makes our conference stronger,” said Clemson University President Jim Clements, Ph.D. “I appreciate the efforts of the ACC members and Commissioner Phillips in the creation of this innovative conference model. We remain proud members of the ACC, one of the strongest conferences in the country and where our students, the other 17 ACC schools, and the league are committed to accomplishing greatness both on the field and in the classroom.”
“We’re very pleased to have reached a settlement that benefits not only Florida State, but the Atlantic Coast Conference as a whole,” said Florida State University President Richard McCullough, Ph.D. “From the start, we’ve held firm to the belief that the best solution would be one that enables FSU and every ACC institution to earn enhanced revenue through performance. I want to thank Commissioner Jim Phillips and my colleagues on the ACC Board of Directors for their leadership, and we look forward to continuing our membership in the ACC.”
The result of the settlement likely means Clemson and Florida State will remain in the ACC for the foreseeable future, perhaps until at least through the 2029 season.
Set your calenders cause the ACC as we know it is going away in 2030
In inspirational words of Jim Valvano.
Don’t give up don’t ever give up!
That what I am encouraging that ACC remains well beyond 2029 & that both Clemson & Florida State will have winning programs in Football.
BYUfan,
I would like to believe your statement.
Present me w/ a/some confirmed source(s) who have verifiable reporting track records. i.e. @BrettMcMurphy with Tested, empirically reliable sources 1st.
I do want Eastern US based Trust 4 Conferences to mishandle their population demographics, to be overbearing & to declare themselves more Titanically invincible than previous Trust 6 Conference alignments.
That is observable with the SEConference16 & B18g10 & to a lesser extent with the ACC17 + ND Football Arrangement.
Until 2029 -2030 shows some Empirical evidence, your opnion is wishful thinking.
In 2030 the exit fees will be so cheap that they can basically just leave to whatever bigger conference wants them and it´s hard to see the SEC and B1G not wanting them and the Big 12 trying to poach some ACC teams as well with the cheap exit fees.