According to sources at Pitt, Swoffords/IMG (IMG lawyers were hired by the ACC to handle negotiations) call with Chancellors and ADs at ACC/Future-ACC schools was to provide a status update on talks with ESPN and Raycom.
--Discussion of an ACC Network with ownership by ESPN, Raycom, and ACC for "Tier 3" games
--Mediation is being recommended because of the ESPN/Raycom subleasing agreement and impact of game distribution across the TV spectrum for those parties.
--Contract terms will put ACC in top four of conference TV revenues based on numbers discussed and PAC10/12 deal is being used as the platform for negotiation (not in terms of dollar value, but structure).
--Discussion of a Grant of Rights in parallel with ACC Network
ESPN wants guarantees surrounding possible future expansion, as to not go back to the negotiating table again if ND is added or a UConn/Rutgers/etc. Structured contractual parameters if there are future additions for the remaining life of the TV contract
--No rush to have contract completed until Spring of 2013, as ACC/IMG believes there will both be a higher value for the conference based on future US economic conditions and improved conference performance on the field/court (in addition to even higher Neilsen ranking data primarily for football)