Florida State University Threatens to Leave ACC Over Revenue Distribution
After months of dissatisfaction with the revenue distributions in the Atlantic Coast Conference (ACC), Florida State University (FSU) has finally made a not-so-veiled threat to leave the conference. FSU President Rick McCullough expressed his concerns during a meeting of the Seminoles’ Board of Trustees, stating that unless there is a radical change to the revenue distribution, FSU will seriously consider leaving the ACC. This threat comes as FSU predicts falling behind its peers in the Big Ten and SEC by up to $30 million per year due to the current media deals.
McCullough emphasized that FSU, along with Clemson and others, contributes significantly to the value of media rights in the ACC. He called the situation an “existential crisis” for Florida State and urged the exploration of other options. The trustees echoed his sentiments, with former FSU quarterback and trustee Drew Weatherford stating that it’s not a matter of if they leave the ACC, but when and how they leave. Trustee Justin Roth even called for FSU to develop an exit plan within the next 12 months.
To leave the ACC, FSU would need to provide notice by August 15th to exit the following summer. However, FSU does not currently have an invitation from the Big Ten or SEC. Additionally, they would have to pay a significant exit fee to the ACC and potentially break the grant of rights agreement, which could result in the ACC owning the rights to FSU home games.
Despite the urgency expressed in the meeting, no formal vote or action was taken by the trustees. They have been discussing this issue for over a year without making any progress, according to trustee Bob Sasser. However, FSU’s athletic director Michael Alford has previously highlighted the need for change to ensure FSU can compete nationally.
The discontent voiced by Florida State is not unique, as other ACC schools, including Clemson, Miami, and North Carolina, have also expressed concerns about the conference’s revenue distribution. While the ACC endorsed a plan for increased payouts based on teams’ performance in revenue-generating postseason play, FSU and others believe more significant changes are necessary.
Florida State’s dissatisfaction stems from the limited options they have due to the ACC’s media rights deal, which extends until 2036. They can either wait it out and continue to fall behind financially or spend a substantial amount to leave early in hopes of joining a more lucrative conference. However, there are uncertainties regarding whether the Big Ten or SEC would be interested in adding FSU and whether their media partners would be willing to invest more.
With less than two weeks until the August 15th deadline to leave the ACC, it remains unclear if FSU will take any immediate action. The public complaints may be an attempt to pressure the ACC into addressing the revenue distribution issue. However, the risks involved in leaving without a secure landing spot and the financial implications of breaking agreements make the situation complex.
In conclusion, Florida State University’s threat to leave the ACC over revenue distribution highlights the ongoing dissatisfaction among several schools in the conference. While FSU desires to join a more financially secure conference like the Big Ten or SEC, they face challenges in securing invitations and navigating existing agreements. The future of FSU’s relationship with the ACC remains uncertain, and it remains to be seen how this situation will unfold.