ACC Shatters Revenue Record With $711M Haul in 2023-24

Last Updated on May 22, 2025

The ACC drove in record revenue from the fiscal year 2023-24, as tax documents reported that the conference brought in  $711 million, up from last year’s $706 million. In turn, the conference was able to award a record-high average of $45 million to its 14 full-member schools. The two teams that received the highest payout were Florida State, which earned $46.3 million, and Louisville, which earned $46.4 million. Additionally, Notre Dame received $20.7 million as a football independent. 

It’s worth noting that the ACC’s record-breaking year did not include ACC newcomers SMU, California, and Stanford. Despite the milestones reached on revenue and school payouts, the ACC remains behind the SEC and Big Ten.

To close the gap, ACC Commissioner Jim Phillips implemented a “success initiative” that rewards schools with more revenue if they make the postseason. Starting next year, the ACC will enact its new TV revenue-sharing plan, allowing schools to receive bonuses for the games that draw the most viewership, particularly in football and men’s and women’s basketball. 

Another critical aspect of the shared ACC tax documents was that the conference reportedly spent $12.3 million on legal fees, starkly contrasting the $7.2 million spent the previous year. That spending largely stems from legal disputes involving Florida State and Clemson, where both schools filed lawsuits over financial disparities that threatened their membership in the conference. With a new ESPN media rights deal extension locked in until the 2035-36 season and the additions of SMU, Cal, and Stanford, the ACC looks to forge a new chapter. 

“I just think you’ve got to settle down,” Phillips said. “I think college athletics needs to settle down, not just the ACC. I think we’ve positioned ourselves for that. The chaos and constant wondering of what’s happening here or there, that distracts from the business at hand.”

Phillips emphasized that the ACC is in a good place despite some of the recent legal headlines.

“I feel good about where we’re at, and while I do take things one day at a time, I think there’s a period of time where let’s settle in and get things done,” Phillips said.