Wednesday, November 28, 2012

Lawyer Up: ACC Files Lawsuit Against Maryland Over Exit Fee

(Patrick McDermott/Getty Images)

(AP - edited) -The ACC has filed a lawsuit against Maryland seeking full payment of the approximately $53 million exit fee for the school's move to the Big Ten.

According to the 10-page lawsuit, the ACC said the school must pay $52,266,342, which is three times the league's annual operating budget for the 2012-13 season.

The lawsuit also states that Maryland President Wallace D. Loh has ''refused to provide assurance'' that the school will pay the exit fee and ''has made it clear that defendant Maryland does not intend to pay the amount.''
In a statement, Commissioner John Swofford says the ACC's council of presidents unanimously decided ''to file legal action to ensure enforcement of this obligation.''

''We continue to extend our best wishes to the University of Maryland; however, there is the expectation that Maryland will fulfill its exit fee obligation,'' Swofford said.

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