The Atlantic Coast Conference, Clemson and Florida State have approved a settlement that would end their legal fights, change the league's revenue-distribution model and revise the long-term costs for a school to leave the conference.

Florida State University (FSU) and the Atlantic Coast Conference (ACC) have finalized a settlement that will significantly alter the conference's revenue distribution model and reduce exit fees for member schools.

The ACC, Clemson and Florida State have approved a settlement that changes the conference's revenue distribution model and reduces exit penalties for members wanting to leave the conference.