Update from Warchant owner...
The big question now is whether Florida State will officially declare its intentions to leave the ACC prior to the Aug. 15 deadline. Unlike last week, the feeling is now is that FSU will probably not announce prior the deadline. Here's why it's trending this way.
- Once the official declaration is made the clock starts ticking for FSU to pay the exit fee (approximately $120 million* More on this later). Declaring now also means FSU would need a new conference to play in by 2024. As of now, no deal has been done with the SEC or B1G so it would be taking a huge chance to declare now without a definite landing spot.
- Several other ACC schools are involved in informal discussion with other conferences. One of these schools is UNC and the B1G, which is interesting given the sanctimonious comments coming out of Chapel Hill towards FSU. Also heard that NC State is in talks with the Big 12. Anyways, once enough ACC teams have secured future homes (presumably eight) it would effectively end the conference and negate the Grant of Rights. If FSU left before this threshold was met, there could be a window where the GOR becomes an issue.
I know many were hopeful the official notice would come prior to the Aug. 15 deadline. While this may not happen, the good news is that I was told that 2024 will definitely be FSU's last season in the ACC. Also, just because FSU has a whole year before the next notice deadline, I've been told it will happen much sooner. FSU is prepared to give notice but feels it may not have all its ducks in a row by 2024, but will by 2025.
* I've heard a benefactor has come forward who is ready to step in to pay all or a good portion of the exit fee. I'm not at liberty to provide more details right now. But this is incredibly important to help fill FSU's short term financial shortcomings when it starts up in the SEC or B1G. It's likely that FSU will not receive a full share of the TV revenue in the first couple years. It's tough enough to receive a lesser share compared to the other conference teams, but would really be a strain to also have to pay back $120 million.