FSU gains access to ACC media contracts after lawsuit filed by Florida Attorney General

Attorney General Ashley Moody reached an agreement with the Atlantic Coast Conference (ACC) on Wednesday to release key media rights contracts that are central to Florida State University’s (FSU) attempt to leave the conference.

Attorney General Ashley Moody on Wednesday obtained the release of media rights agreements from the Atlantic Coast Conference (ACC) that are at the center of the ongoing legal dispute with Florida State University (FSU) over its attempt to leave the conference.

In a prepared statement, Moody announced that the ACC would provide the documents after her office initiated legal action to enforce Florida’s Public Records Act. The documents include the 2010 ACC Multimedia Agreement, the 2012 Amending and Renewal Agreement, the Second Amendment to the 2014 Multimedia Agreement, the 2016 Amended and Restated ACC-ESPN Multimedia Agreement, the 2016 ACC-ESPN Network Agreement, and a letter of amendment to the Amended and Restated Multimedia Agreement dated August 10, 2021.

“Our office’s lawsuit resulted in the ACC agreeing to release secret media contracts that are at the heart of the legal battle between FSU and ACC,” Moody said. “We will continue to fight for transparency.”

Previously, the ACC required FSU representatives to travel to North Carolina to access these documents, incurring significant travel costs. The contracts, which are held at ACC headquarters, contain provisions that could potentially cost FSU more than $500 million if the university leaves the conference. The ACC has committed to submitting these agreements to the Florida Attorney General’s office by August 1.

Despite the publication of the documents board McMurphywith the sports publication Action Networkreported Tuesday that the Big Ten and SEC — both of which have long been considered potential destinations for the Seminoles — are unlikely to welcome FSU if it succeeds in breaking away from the ACC. The main reasons cited were financial barriers, a lack of interest in further expansion and concerns about FSU’s reputation as an affiliate. FSU is reportedly eyeing those conferences because of their lucrative television rights contracts.

“Big Ten and SEC likely won’t accept Florida State if it leaves ACC & survives ACC, sources told Action Network,” McMurphy posted on X. “Big Ten and SEC do not want FSU because admitting FSU does not make financial sense, there is no desire to expand and “they have been a disruptive partner.”

FSU’s current situation is compounded by a legal and financial minefield that binds the university to the ACC through the conference’s Grant of Rights agreement, which sets its media rights to the conference through 2036. The agreement presents a legal hurdle because FSU would have to challenge its enforceability to force a withdrawal. The legal battle alone could be lengthy and costly, adding to the already significant financial burden.

In addition, the ACC’s charter calls for a hefty exit fee estimated at around $120 million. Without a clear and immediate path to joining a more lucrative conference, this fee poses a risk to FSU’s financial stability. In addition, the university may not be able to recoup the costs through increased media revenue, further complicating the calculation.