The Maryland Terrapins plan to depart the ACC for the Big Ten but they have run into some legal issues before the move could officially be made. The Atlantic Coast Conference is suing the university approximately $53 million to pay a full exit fee for the move to the Big Ten. Maryland was scheduled to join the Big Ten in 2014.
The exact number Maryland is being sued can be found in the ten-page lawsuit and is $52,266,342. The lawsuit was filed Monday in Guilford County Superior Court.
“We continue to extend our best wishes to the University of Maryland; however, there is the expectation that Maryland will fulfill its exit fee obligation,” ACC Commissioner John Swofford said.
Swofford continued to add the ACC’s council of presidents unanimously decided “to file legal action to ensure enforcement of this obligation.”
The $50+ million figure is three times the league’s annual operating budget for the 2012-13 season. The exit fee is a high amount to allow the league to fluctuate from year to year.
Maryland and Florida State voted against the increased exit fee but they were out voted and Maryland could now be facing the fee. We surely haven’t heard the last of this one, so stay tuned to FanSided.com for the latest on the Maryland – ACC lawsuit.