LANE | Cards Reach Agreement on American Departure - WDRB 41 Louisville News

LANE | Cards Reach Agreement on American Departure

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LOUISVILLE, Ky. (WDRB) -- The University of Louisville and the American Athletic Conference have reached an agreement that will allow the school to leave the AAC and set up its subsequent move to the Atlantic Coast Conference, effective July 1, 2014.

"I am pleased to announce this agreement and pleased that Tom Jurich and I worked together in a spirit of friendship to complete it," said American Athletic Conference Commissioner Mike Aresco. "I have great respect and admiration for Tom and for the manner in which Louisville conducted itself in our negotiations. We wish Louisville the best and appreciate what they have meant to our conference."

 "I'm glad to have been able to work face-to-face with Mike Aresco to reach a fair settlement for us to depart the league a year early," said Vice-President and Director of Athletics Tom Jurich. "All of us at the University of Louisville appreciate what the former Big East and American Athletic Conference have done for us and I see greatness ahead for the league under Mike's leadership."

Several reports say the Cardinals will end up paying 11 million dollars total to leave the Conference.  Perhaps most importantly, this will keep the school's exit from the AAC out of the courts as is the case with Maryland's departure from the Big Ten.

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