Florida State, Clemson, and the ACC have reached a settlement agreement to end their lawsuits, providing stability for the conference. The settlement includes changes to the financial penalties for leaving the conference and adds a brand-value component to revenue sharing. This new model will reward schools that bring in the highest television audiences. The ACC reported $481.7 million in media rights for 2022-23.
The top television draws could earn up to $15 million more annually, while others could receive up to $7 million less. The settlement comes after concerns about the Big Ten and SEC’s financial advantages, prompting changes to the revenue-sharing model. The grant of media rights and exit fees will be enforced until 2030, with penalties decreasing after that.
The settlement also acknowledges brand value and success on the field, rewarding top performers in football and men’s basketball. This comes after a success initiative that rewarded teams for College Football Playoff qualification and rankings. The ACC commissioner, Jim Phillips, has overseen these changes to keep the conference competitive.
The settlement still needs approval from the governing boards of the parties involved. This agreement marks the end of over 400 days of litigation between Florida State, Clemson, and the ACC. The settlement aims to strengthen the conference’s financial stability and competitiveness moving forward.
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