SBD/August 11, 2014/Colleges

ACC, Maryland Finally Agree On $31M Exit Fee Settlement As UM Heads To Big Ten

The Univ. of Maryland and the ACC on Friday "finally agreed on the terms of their messy divorce" -- the school will pay $31M of a $52M exit fee the conference sought, according to Jeff Barker of the Baltimore SUN. The settlement figure is the "amount the ACC already has collected by withholding shared conference revenues -- without Maryland's consent -- to make sure it got at least a portion of what it demanded." After "nearly 21 months of litigation" in Maryland and N.C. courts, each side "can walk away." The $31,361,788 settlement and the $52,266,342 exit fee are "both steep, relative to other separations in recent years." Experts on Friday said that the settlement was "expected and preferable -- for both parties -- to continued, expensive legal wrangling and a possible trial" (Baltimore SUN, 8/9). ESPN.com's Andrea Adelson wrote this is a "win for both sides." UM ended up "paying less" than $52M to exit, but it also "just paid the largest buyout fee in recent realignment history" (ESPN.com, 8/8). In DC, Roman Stubbs noted the ACC's suit "sparked a contentious two-year legal battle between the league" and UM (WASHINGTONPOST.com, 8/8). In Raleigh, Andrew Carter noted the "end of the legal fight between the ACC and Maryland allows both parties fresh starts after the end of a partnership that spanned six decades" (Raleigh NEWS & OBSERVER, 8/9).

SCHOOL
EXIT FEE
CONFERENCE
Maryland
$31.4M
ACC to Big Ten
West Virginia
$20M
Big East to Big 12
Texas A&M
$12.41M
Big 12 to SEC
Missouri
$12.41M
Big 12 to SEC
Rutgers
$11.5M
Big East to Big Ten
Louisville
$11M
Big East/American to ACC
Nebraska
$9.5M
Big 12 to Big Ten
Syracuse
$7.5M
Big East to ACC
Pittsburgh
$7.5M
Big East to ACC
Colorado
$6.86M
Big 12 to Pac-12
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Colleges, ACC, Big Ten

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