COLLEGE PARK, Md. (WJZ) -- The University of Maryland and the Atlantic Coast Conference reach a legal agreement that ends lawsuits between both parties.
Maryland has agreed that the ACC will keep more than $31 million previously withheld in order to resolve the lawsuits.
The ACC has agreed that Maryland will have no obligation to make any other payments to the ACC.
In addition, the lawsuits filed in the state of North Carolina and Maryland will be dismissed.
"The University of Maryland is proud of our long and storied 61-year association with the Atlantic Coast Conference," said Wallace D. Loh, president of the University of Maryland. "Today's agreement helps usher in exciting new eras for both the University and the ACC. We wish the conference and our ACC university colleagues well."
"Our student-athletes, coaches, staff, fans and alumni will forever hold dear the memories of six outstanding decades in the Atlantic Coast Conference," said Kevin Anderson, Director of Athletics at the University of Maryland. "Today marks the next chapter in the history of Maryland Athletics, and we look forward to creating new memories in the decades to come."
"On behalf of the ACC's Council of Presidents, I am pleased that all parties can move forward, returning our focus where it belongs – on our student-athletes, intercollegiate athletic programs and institutions of higher learning," said Donna Shalala, Chair of the ACC Council of Presidents and President of the University of Miami. "There is great excitement surrounding the ACC and its 15 member institutions and we extend our best wishes to our colleagues at Maryland as we look ahead to the upcoming academic year."
"I commend our Council of Presidents and specifically President Donna Shalala for steering us to this resolution," said ACC Commissioner John Swofford. "This agreement allows everyone to fully focus their energy and efforts on prioritizing the student-athletes, especially in this significant time of change within the NCAA restructuring. We wish the University of Maryland well and appreciate their past contributions as we collectively look toward the future."
The ACC and the University of Maryland now consider this matter closed.
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