SBD/Closing Bell

Maryland's Loh Cites "Financial Sustainability" For Move To Big Ten

The Univ. of Maryland today formally announced its plans to move from the ACC to the Big Ten on July 1, 2014. School President Wallace Loh called the school’s move to the Big Ten Conference a “watershed” moment for the university and said that it will “ensure the financial sustainability of Maryland athletics for decades to come.” Loh said the school is “committed to take some of our new resources and earmark them to support the educational enterprise of the university” and also to “earmark substantial funds to make possible affordable college education for students in need, and I’m not talking about student-athletes.” Loh added of leaving the ACC, “My obligation as president is not to any conference. It is to the best interest of the University of Maryland over the long haul.”

UM AD Kevin Anderson said the move “guarantees our athletic department and our university financial stability.” Anderson: “We have done so much with so little for so long.” UM earlier this year eliminated seven athletic teams due to the lack of funding (Big Ten Network, 11/19).
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