Amid $572 million FSU vs ACC legal battle, Seminoles reportedly set up a new board of trustees meeting for Wednesday

Florida State has reportedly set up a new board of trustees meeting for this week. FSU held a BOT meeting in December when the school voted unanimously to sue the ACC. The Seminoles have been trying to get out of the conference for quite some time.

FSU was reportedly frustrated with the revenue sharing and media rights deal, and the board said that they exhausted all other options.

"I believe this board has been left no choice but to challenge the legitimacy of the ACC grant of rights and its severe withdrawal penalties," board chair Peter Collins said, via ESPN.

"None of us like being in this position. However, I believe that we have exhausted all possible remedies within the conference and we must do what we believe is best for Florida State not only in the short term but in the long term."

However, after the news was released that FSU was set to sue ACC, the conference commissioner Jim Phillips released a statement:

"Florida State's decision to file action against the Conference is in direct conflict with their longstanding obligations and is a clear violation of their legal commitments to the other members of the Conference."

Since then, neither the FSU nor the ACC has given an update on the matter. However, it was revealed on Monday that FSU is setting up another board of trustees meeting for Wednesday.

The meeting is to discuss FSU getting a loan, which could be used to pay for the legal action if the Seminoles end up suing the ACC. Leaving the ACC could cost the Seminoles $572 million.

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FSU suing over grant of rights, withdrawal fee

The FSU Seminoles could be the first school to challenge a grant of rights in court. The school claims that the ACC has had "chronic fiduciary mismanagement and bad faith," which is why they are pursuing legal action.

Before the 2023 college football season kicked off, FSU President Richard McCollough said that the school may look at leaving the ACC if nothing changes.

After the season has ended, McCullough says that he's disappointed nothing has changed. He adds that FSU has no choice but to pursue legal action against the ACC.

"This is not where I would prefer to have ended up," McCullough said, via ESPN.

"I would prefer a different pathway, but I feel in many ways we've exhausted all other options, and you can't wish and hope that somehow they'll get fixed."

Whether or not FSU will win the lawsuit against the ACC is to be seen, but the school is ready to exhaust all options to try and leave the conference.