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University of Maryland and ACC have reached a multimillion-dollar deal on conference exit fee dispute

Staff Reporter- Washington Business Journal

The University of Maryland and the Atlantic Coast Conference have reached an agreement over exit fees for the Terps’ departure to the Big Ten.

The ACC will keep $31.3 million previously withheld from the school, but also agreed that Maryland will not have to make any other payments to the conference. The ACC billed the school for $52 million after announcing two years ago that it was leaving the conference for the Big Ten.

The switch became official in July.

The agreement also calls on Maryland to drop its $157 million countersuit against the conference, which was filed in January.

Both parties issued the same statements patting each other on the back for the deal. And both sides said they would have no further comment.

Read full article here from Washington Business Journal

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