Report: Big East, Pitt reach agreement allowing Panthers to join ACC in 2013
Sources told Brett McMurphy of CBSSports.com that the Big East Conference and Pittsburgh have reached an agreement that will allow the Panthers to withdraw from the Big East and join the ACC in time for the 2013 football season, rather than in 2014.
Pitt will pay an exit fee of $7.5 million — the league’s standard $5 million exit fee plus and extra $2.5 million to leave early. (The conference’s bylaws usually require 27 months’ notice to depart.) It’s the same deal that Syracuse earlier negotiated with the conference.
McMurphy writes that after the Big East was able to add San Diego State, Boise State, Houston, Central Florida, Memphis and SMU for 2013 (along with Temple this season), the conference was more willing to allow both the Orange and the Panthers to hit the road early.