ACC commissioner on Magnificent 7, grant-of-rights talk: 'That's not a warning sign'
ACC commissioner Jim Phillips told reporters on Wednesday that he was not surprised by reports that several ACC programs have been reviewing the conference’s grant-of-rights agreement.
The ‘Magnificent 7’ programs have reportedly been seeking a greater share of the ACC’s media distributions in order to keep up with a growing revenue gap between the ACC and other top conferences. That group of teams includes Florida State, Clemson, North Carolina, NC State, Miami, Virginia Tech and Virginia.
However, even as those programs are reviewing the league’s grant-of-rights agreement to determine potential options, Phillips is unfazed.
“That’s not a warning sign of something bad,” Phillips said at the ACC’s annual spring meetings.
Jim Phillips says he encourages schools to come review the grant of rights. “That’s not a warning sign of something bad.”
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The ACC’s grant-of-rights agreement runs through 2036. It prevents programs from earning any media revenue outside the ACC until its expiration. Effectively, it would not be financially viable for any ACC team to leave the conference before the grant-of-rights agreement is up.
In future years, ACC programs are expected to face a revenue gap of approximately $30 million annually compared to their peers in the SEC and the Big Ten. Clemson athletic director Graham Neff said this week that the “magnitude of the gap” is becoming a problem for the ACC’s top programs.