Maryland is officially departing the Atlantic Coast Conference to join the Big Ten Conference. The University of Maryland's Board of Regents announced that the school would be leaving the league it helped form back in 1953 to join the Big Ten beginning in 2014.
A news conference was held this afternoon to make the announcement official.
Rutgers is also expected to announce on Tuesday that it too will be joining the Big Ten, making it the 14th member of the conference.
Maryland's coming absence from the ACC creates an opening and possibly instability. After adding Notre Dame as a partial member (all sports but football and hockey) in September 2012, ACC presidents voted to increase the league's exit fee to $50 million. Florida and Maryland were the only objectors voting against the increase.
An ACC official told USA Today that the league's council has determined that the exit fee is binding, so leaving the ACC is going to cost Maryland a significant chunk of change. Maryland is expected to seek a reduction in the buyout.