The ACC voted to add the Louisville Cardinals to the conference in November 2012 as a replacement for the Maryland Terrapins, who will leave the conference for the Big Ten in 2014. But it won’t be cheap move for the Cards , who must now pay $11 million to their conference, the American Athletic Conference, in order to leave early and join the ACC in 2014:
American Athletic Conference announces it has reached agreement with Louisville re: departure. Cards to join ACC on July 1, 2014.
— Nicole Auerbach (@NicoleAuerbach) November 13, 2013
Louisville pays $11M to American Athletic Conference to join ACC on July 1, 2014
— Brett McMurphy (@McMurphyESPN) November 13, 2013
The AAC also announced that the agreement had been reached.
“I am pleased to announce this agreement and pleased that Tom Jurich and I worked together in a spirit of friendship to complete it,” said American Athletic Conference commissioner Mike Aresco in a release. “I have great respect and admiration for Tom and for the manner in which Louisville conducted itself in our negotiations. We wish Louisville the best and appreciate what they have meant to our conference.”