AP Source: Louisville to pay $11 million AAC exit fee

Louisville director of athletics Tom Jurich is eager to get the Cardinals to the ACC.

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The conference announced Wednesday that its members had voted to terminate Louisville's membership on July 1, 2014. The person familiar with the situation says the school agreed to pay the conference an extra $1 million after amicable negotiations. The person spoke on condition of anonymity because financial terms were not disclosed.