According to the league’s recent tax documents, the Atlantic Coast Conference created a record of revenue and member spending, but legal bills have also continued to rise in lawsuits by members Clemson and Florida, according to the league’s recent tax documents.

The 990 tax form covering the 2023-24 season reported that the league's revenue increased to about $7.114 billion, slightly higher than $706.6 million in the same period last year. This has led the ACC to pay nearly $45 million on average to its 14 football players ($46.4 million) and FSU ($46.3 million) footballers, while Notre Dame made $20.7 million because of its share of its independent football.

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These numbers do not reflect the arrival of California, Stanford and SMU as new members push the league to 18 schools in the 2024-25 season. It also also includes the “Success Initiative” advocated by Commissioner Jim Phillips, which takes effect this season to allow schools to keep their playoff success generating more money.

The ACC also revised its income distribution plan to take into account TV ratings and reward top schools. This is effective next year, part of the threat to end the Clemson and FSU cases, challenging the league's ability to charge a large exit fee if they try to join another league.

Phillips talked about the growing gap in the league following the Big Big and Southeast meetings, although the league accounts for less revenue and spending in submissions from the previous year.

It is worth noting that in August 2019, the launch of the ACC network jointly developed by ESPN was a driving force. The league reported $288.6 million in TV revenue in the 2018-19 season ahead of the network’s launch, but that figure hit $2023-24, up $487.1 million, up 68.8%.

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Of these gains, however, the alliance reported $12.3 million in legal fees for 2023-24, up 70.2% from the previous year ($7.2 million), as FSU filed a lawsuit in March 2024 and Clemson subsequently filed a lawsuit in March 2024.

Legal cases have also increased in the case of legal cases reshaping college track and field, including landmark settlements, reaching a $2.8 billion federal class action antitrust lawsuit filed by athletes against the NCAA and its largest conference. The solution is awaiting final approval from a federal judge before it can take effect as early as July 1, such as schools that share more than $20 million a year with athletes.

The ACC reported nearly $19.6 million in legal expenditure through two of its most recent tax documents, similar to the total reported in the past six years ($20.8 million).

Still, the resolution in the FSU and Clemson case and the January ESPN chose to extend its fundamental rights ACC media deal to 2035-36, providing a measure of alliance stability at the annual spring meeting in Florida this week.

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"The chaos and the constant wondering what's going on here or there, I just thought it would be a distraction from the business at hand," Phillips said at the time. "But I feel good about where we are."

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