ACC approves brand-new income circulation model
Andrea Adelson, ESPN Senior WriterMay 24, 2023, 01:09 PM ET
- ACC press reporter.
- Signed up with ESPN.com in 2010.
- Graduate of the University of Florida.The ACC board
of directors endorsed a brand-new profits distribution model Wednesday that will reward success based upon postseason efficiency, the league revealed in a statement.These “success rewards “are based upon efficiency in revenue-generating postseason competitors– more specifically, the College Football Playoff and NCAA competition. A bigger share of that earnings will go to the groups getting involved instead of getting divided equally among all members.All other earnings, including those from the league’s current television agreement, will continue to be shared equally. While the total specifics have not yet been strengthened, the success reward effort will start in 2024-25, once the expanded College Football Playoff begins.Editor’s Picks 2 Associated The ACC board of directors, comprising the league’s 15 presidents and chancellors, satisfied this week in Charlotte. ACC commissioner Jim
Phillips said recently throughout ACC spring meetings in Amelia Island, Florida, that he was positive the board would endorse this brand-new model.”The ACC Board of Directors continues to be dedicated to checking out all possible chances that will lead to additional profits and resources for
the conference, “Vincent E. Rate, ACC board of directors chair and Duke University president, stated in a declaration.”Today’s choice provides a course to reward athletic success while also dispersing extra income to the full subscription.”The ACC has actually spent months going over a new profits circulation strategy as a method to help reduce what is anticipated to be a$30-40 million annual earnings gap between the conference and the SEC and Big Ten. Florida State athletic director Michael Alford stated recently that under the brand-new success rewards plan, a group that makes the College Football Playoff might potentially add more than $10 million in income each year. “Today’s recommendation follows significant and significant discussions by the ACC Board of Directors,” Phillips stated in a declaration.” To be particular, I applaud their consideration and continued commitment to working jointly.
As we’ve interacted regularly, we remain devoted to checking out all alternatives to boost support for our member institutions and their student-athletes. “