ACC, Florida State, Clemson reach revenue distribution settlement - ESPN

The ACC, Florida State and Clemson ended their ongoing litigation Tuesday after agreeing to a settlement that changes the league's revenue distribution model and significantly reduces exit penalties for members wanting to leave the conference before 2036.

ACC commissioner Jim Phillips thanked all parties for their «patience and dedication» in getting a deal done, solidifying the conference for the near future.

«Today's resolution begins the next chapter of this storied league and further solidifies the ACC as a premier conference,» Phillips said in a statement. «As we look ahead to our collective long-term future, I want to express my deepest appreciation to the ACC Board of Directors for its ongoing leadership, patience and dedication throughout this process. The league has competed at the highest level for more than 70 years and this new structure demonstrates the ACC embracing innovation and further incentivizing our membership based on competition and viewership results.

»The settlements, coupled with the ACC's continued partnership with ESPN, allow us to focus on our collective future — including Clemson and Florida State — united in an 18-member conference demonstrating the best in intercollegiate athletics."

Shortly after the ACC board approved the move, the boards of trustees for Florida State and Clemson approved the settlement terms. Clemson athletic director Graham Neff told his board the settlement is «consistent with the objectives we set out with initially» with its lawsuit against the conference.

«The ACC is an excellent fit for Clemson,» Neff said. «The academic prestige and reputation we so emphasize here at Clemson is a natural fit with other members of the ACC. The historic football success the league