Monday morning brought the news that the lawsuits filed by Clemson and Florida State against the ACC are set to be settled. The Board of Trustees at both schools are scheduled to meet on Tuesday with the litigation against the ACC the docket item for each.
ESPN broke the news of the settlement of the four ongoing lawsuits. The league presidents are to vote on terms and new TV money distribution in which the more successful teams will receive more of the money.
Here’s the breakdown according to ESPN’s Pete Thamel:
*40% of TV money distributed evenly among legacy ACC schools. 60% percent by ratings-based formula over last five years.
*Top ACC earners could net more than $15 million, while some schools will see a net deduction in annual payout of about $7 million.
*Total cost to exit the league 29-30 is expected to drop to below $100 million dollars.
Florida State filed suit against the ACC in December of 2023, and Clemson followed with its suit in March of 2024. Both have spent millions of dollars in legal fees to reach this point in the litigation.