Finally the Big East and Pitt Panthers have come to an agreement to part ways. This is no surprise to anyone, but the details have finally been ironed out. Pitt will officially join the ACC on July 1, 2013 after playing one last season in the Big East.
The terms of the agreement included a $7.5 million cash payment from Pitt to the Big East. This fee includes a $5 million withdrawl fee. In return the members of the Big East will vote to terminate Pitt's membership.
Syracuse was also just recently granted a release from the Big East to join the ACC on July 1, 2013.