ACC, Maryland settle legal dispute for $31M - WECT, weather & sports Wilmington, NC

ACC, Maryland settle legal dispute for $31M

Eds: APNewsNow. Will be updated.
GREENSBORO, N.C. (AP) - The Atlantic Coast Conference and the University of Maryland have settled their legal dispute over the Terrapins' exit from the league.
Under terms of a settlement announced Friday, the ACC will keep the roughly $31 million it had previously withheld from Maryland and the school will not owe the conference any more money.
In addition, lawsuits filed by both sides will be dismissed.
After Maryland's 2012 announcement that it would leave for the Big Ten, the ACC sued the school seeking full payment of the $52 million exit fee.
Maryland then sued the ACC, calling the fee an illegal penalty, and earlier this year filed a $157 million counterclaim against the conference.
Maryland President Wallace D. Loh says the settlement "helps usher in exciting new eras" for the school and conference.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Powered by Frankly