Florida State and Clemson voted to agree on settling their four ongoing lawsuits against the ACC and a new revenue-distribution strategy Tuesday, CBS Sports’ Brandon Marcello has confirmed. The ACC Board of Directors also approved the measure earlier in the day, bringing litigation between the conference and two of its most prominent member institutions to an end.
“Today’s resolution begins the next chapter of this storied league and further solidifies the ACC as a premier conference,” ACC commissioner Jim Phillips said in a statement. “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.”
ESPN recently exercised its opt-in clause with the ACC, extending its media rights deal with the conference through 2036 while providing some relief for the ACC through turbulent times. 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…
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