On July 18, 2012, the Atlantic Coast Conference (ACC) confirmed the University of Pittsburgh (Pitt) will join Syracuse University in beginning their conference membership on July 1, 2013. The Big East Conference, Pitt’s current conference, and Pitt announced the organizations had come to an agreement that would allow termination of membership on the aforementioned date. Pittsburgh will make a total cash payment to the Big East of $7.5 million, which includes a $5 million withdrawal fee under the conference’s legislation at the time of the notice of withdrawal.
ACC Commissioner John Swofford commented on the announcement stating, “it’s exciting to know that both Pitt and Syracuse will become playing members in the ACC starting with the 2013-14 academic year. I’m pleased that both schools were able to finalize agreements with the Big East. The ACC has long enjoyed a rich tradition of balancing academics and athletics and the addition of Pitt and Syracuse further strengthens this conference.”
The full conference release can be found here.