The ACC presidents and chancellors voted to add three schools -- Stanford, Cal and SMU -- beginning in the 2024-25 school year. It will bring the ACC to 18 members, with 17 playing football full time in the conference.
www.espn.com
ACC adds Stanford, Cal, SMU as new members beginning 2024-25
Cal, Stanford and SMU will come at a significant discount, which will help create a revenue pool to be shared among ACC members. SMU is expected to come in for nine years with no broadcast media revenue, sources told ESPN, and Cal and Stanford will each start out receiving just a 30% share of ACC payouts.
That money being withheld is expected to create an annual pot of revenue between $50 million and $60 million. Some of the revenue will be divided proportionally among the 14 full-time members and Notre Dame, and another portion will be put in a pool designated for success initiatives that rewards programs that win.
For Stanford and Cal, it will be 30% of a whole ACC share for the next seven years. That number will jump to 70% in Year 8, 75% in Year 9 and then full financial shares in the 10th year, per sources.
The move delivers a life preserver to the athletic departments at Stanford and Cal, which were left twisting amid the Pac-12's implosion. Stanford has an athletic department that is considered the gold standard in college athletics. Both will face increased travel costs, which will significantly impact a Cal athletic department that faces hundreds of millions in debt.
"Student-athletes come to Stanford to pursue their highest academic and athletic potential, and joining the ACC gives us the ability to continue offering them that opportunity at a national level," said Stanford president Richard P. Saller in a statement.
For SMU, the decision to forgo television revenue gave it a seat in a major conference, and the school will lean on its wealthy boosters to help it stay afloat until revenue comes in. It marks a significant moment for the school's climb back from the death penalty for major infractions that led to the school not playing football in 1987 and 1988. SMU didn't return to a bowl until 2009 after the penalties.
"This is a transformational day for SMU," SMU president R. Gerald Turner said in a statement. "Becoming a member of the ACC will positively impact all aspects of the collegiate experience on the Hilltop and will raise SMU's profile on a national level. We want to thank everyone who has helped position SMU for this important moment. Joining the ACC is an historic milestone in our institution's history, and the start of a new chapter in SMU Athletics."
Just sayin': You have to wonder
1) What did NCST get for flipping their vote?
2) Is ESPN adding more $$$ to their TV contract to make up what Stanford and Cal are getting?
3) How many more years does Clemson and/or Free Shoes stay in the ACC?
4) Is UNC going to want out now?
5) What is going to happen to Washington State and Oregon State now?