November 19, 2012;College Par, MD, USA; Maryland president Wallace Loh speaks during the Big Ten Press Conference at Adele Stamp Union. Mandatory Credit: Evan Habeeb-USA TODAY Sports

University Of Maryland, ACC Reach Agreement

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It’s official: the University of Maryland will never have to deal with the ACC ever again.

In a press release on Friday, it was announced that the University of Maryland and the ACC “reached a mediated agreement that ends all litigation between both parties.” In April, the two sides had entered the mediation process due to being unable to reach a prior agreement.

The release also stated that “Maryland has agreed that the ACC will keep the sum of $31,361,788 previously withheld in order to resolve the lawsuits, and the ACC has agreed that Maryland will have no obligation to make any other payments to the ACC.” Lawsuits filed in North Carolina and Maryland will be dismissed as well.

This allows Maryland to “save” $20 million because they are no longer required to pay the $52.3 million exit fee.

Rutgers, who is also a new Big Ten member this year, was required to pay an $11.5 million exit fee to leave the American Athletic Conference.

This closes the book on the ACC for the Terrapins. It’s all about the Big Ten now!

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Tags: ACC Big Ten Lawsuit Maryland Terrapins

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