Maryland and ACC Settle on $31.3 Million
From the ACC/Maryland:GREENSBORO, N.C. - The Atlantic Coast Conference and the University of Maryland announced today they have reached a mediated agreement that ends all litigation between both parties.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. In addition, the lawsuits filed in the State of North Carolina and Maryland will be dismissed."On behalf of the ACC's Council of Presidents, I am pleased that all parties can move forward, returning our focus where it belongs - on our student-athletes, intercollegiate athletic programs and institutions of higher learning," said Donna Shalala, Chair of the ACC Council of Presidents and President of the University of Miami. "There is great excitement surrounding the ACC and its 15 member institutions and we extend our best wishes to our colleagues at Maryland as we all look ahead to the upcoming academic year.""I commend our Council of Presidents and specifically President Donna Shalala for steering us to this resolution," said ACC Commissioner John Swofford. "This agreement allows everyone to fully focus their energy and efforts on prioritizing the student-athletes, especially in this significant time of change within the NCAA restructuring. We wish the University of Maryland well and appreciate their past contributions as we collectively look toward the future.""The University of Maryland is proud of our long and storied 61-year association with the Atlantic Coast Conference," said Wallace D. Loh, president of the University of Maryland. "Today's agreement helps usher in exciting new eras for both the University and the ACC. We wish the conference and our ACC university colleagues well.""Our student-athletes, coaches, staff, fans and alumni will forever hold dear the memories of six outstanding decades in the Atlantic Coast Conference," said Kevin Anderson, Director of Athletics at the University of Maryland. "Today marks the next chapter in the history of Maryland Athletics, and we look forward to creating new memories in the decades to come."The ACC and the University of Maryland consider this matter closed and will have no further comment.