Big East, Pitt reach exit agreement
The Big East Conference and the University of Pittsburgh announced Wednesday they have come to an agreement to allow Pitt to join the Atlantic Coast Conference effective July 1, 2013.
Pitt will pay the Big East $7.5 million — including a $5 million withdrawal fee — along with other considerations to make the move a year early than allowed by the league’s bylaws.
The move comes two days after the Big East and Syracuse reached a similar agreement that allows Orange athletics move to the ACC on the same date.
“This is another step for the Big East to take toward a very exciting future. With the addition of our eight new members, the Big East will be incredibly strong and vibrant,” said Joe Bailey, Interim Commissioner of the Big East said in a statement.
Added Steve Pederson, Athletic Director for the University of Pittsburgh: “We have appreciated and enjoyed our membership in the Big East and wish them much success in the future. We are anxious to compete in our final season in the Big East and look forward to an exciting future in the Atlantic Coast Conference.”
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