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 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.

The deal will give the ACC's highest-profile programs a bigger piece of the financial pie while ensuring a peaceful existence until 2030.