How much will Florida State have to pay to leave the ACC? Exploring different alternatives for the Seminoles ahead of the 2023 season
Florida State is actively working on a plan to exit the Atlantic Coast Conference. The university has not made the intention hidden and its top officials have openly spoken about it. However, the ACC grant of rights remains a roadblock in their plan to leave.
In order to leave the ACC, Florida State would need to settle a $120 million exit fee. It also has to initiate a legal process to contest the current grant of rights, which grants the ACC control over media rights for its member institutions throughout the contract's duration.
For over a year, Florida State, in conjunction with other schools within the ACC, has thoroughly examined the contractual wording within the grant of rights agreement. There's a need to find a loophole in the binding contract to finalize an exit from the ACC.
@MHver3 Since ESPN holds the ACC grant of rights, I can see ESPN letting Florida state and Clemson go to SEC and just have the schools pay the exit fee.
ACC exit fee is lower than initial reports
Earlier reports had suggested that Florida State could pay more than double the newly reported exit fee to leave the ACC. According to college football insider Greg Swaim, the Seminoles were in negotiation for a $300 million buyout from the ACC.
The Seminoles are anticipated to fulfill the buyout through a series of installments. As per Swaim's report, the university will disburse $30 million each year over a span of 10 years to the ACC. The agreement will allow the university to join another athletic conference.
Latest reports have, however, shown that FSU only has to pay $120 million to make its way out of the ACC. Since this fee is lesser than the previous figure, the Seminoles might have to pay the sum at once before continuing with other conference exit processes.
Despite Florida State signaling that they want out of the ACC, @ByPatForde doesn't see neither the SEC or BIG 10 bringing them on.
Pat's full appearance: youtu.be/XGJ2Culhc3M pic.twitter.com/1985yKRfMN
How would the ACC react to a successful exit by Florida State?
Florida State's exit from the ACC will definitely create a pathway for more schools within the conference to leave. There are at least seven members of the conference exploring the possibility of exiting the ACC despite the binding contract.
However, not all teams within the conference can afford to pay a $120 million exit fee. Just a number of schools in the ACC can foot that bill. This creates some confidence within the ACC that the conference won't face the same fate as the Pac-12.
The August 15th deadline, which requires any conference member intending to depart the ACC to provide advance notice of one year, is fast approaching. It remains to be seen how FSU will navigate the plan to leave the ACC in the coming weeks.