ACC, Maryland settle exit fee fight for $31.3 million

By Phil Watson | Aug 8, 2014

Nov 30, 2013; Raleigh, NC, USA; Maryland Terrapins players De'Onte Arnett (70) , Marcus Whitfield (41) , Levern Jacobs (8) , Dexter McDougle (25) , Cavon Walker (39) and Nigel King (3) celebrate a win over the North Carolina State Wolfpack at Carter Finley Stadium. Maryland won 41-21. Mandatory Credit: Rob Kinnan-USA TODAY Sports /

The Atlantic Coast Conference wanted $52 million from the University of Maryland, one of the conference’s charter members who announced in 2012 it was leaving the ACC for the Big Ten Conference.

Maryland officially made the jump to the Big Ten on July 1 and on Friday the ACC announced the sides had settled on an exit fee of approximately $31.3 million.

That amount will bring an end to lawsuits that had been filed in both North Carolina and Maryland.

The agreement was reached through mediation and the ACC did what it could to appear gracious.

"“On behalf of the ACC’s council of presidents, I am pleased that all parties can move forward, returning our focus where it belongs—on our student-athletes, intercollegiate athletic programs and institutions of higher learning,” said Donna Shalala, president of the University of Miami and of the ACC council of presidents. “There is great excitement surrounding the ACC and its 15 member institutions and we extend our best wishes to our colleagues at Maryland as we all look ahead to the upcoming academic year.”"

Maryland was one of seven charter members of the ACC in 1953, along with Clemson, Duke, North Carolina, North Carolina State, South Carolina and Wake Forest.