11/28/2012 10:13 am ET Updated Jan 28, 2013

ACC Sues University Of Maryland For Quitting Conference - Businessweek

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The Atlantic Coast Conference sued the University of Maryland for $52.3 million in penalties after the school said its teams would leave to compete in the Big Ten, joining a recent rearrangement of collegiate sports leagues.

A member that withdraws from the conference is subject to a payment three times the organization's operating budget, the ACC said in a filing yesterday in superior court in North Carolina. The annual operating budget for the 2012-2013 year is $17.4 million, according to the complaint.