It's been known for a while that Louisville would be joining the ACC in time for the 2014 season, but before doing so the school had to reach an agreement with its current conference, the American Athletic.
And on Wednesday the AAC announced that the agreement had been reached.
“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 in a release. “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.”
According to ESPN.com's Brett McMurphy, the agreement includes Louisville paying $11 million to the AAC.
The ACC voted to add Louisville to the conference in November 2012 as a replacement for Maryland, which will leave the conference for the Big Ten in 2014. And speaking of teams leaving their conference to join the Big Ten, Rutgers has still not reached an agreement with the American Athletic about its impending departure from the conference.
Odds are, now that Louisville has reached its agreement, Rutgers won't be far behind.