In a highly oversimplified explanation...
ESPN is paying the ACC for a bundle of games, true. Then they SEPARATELY (and unnecessarily) "required" us to sign over our rights.
So let's say UM and F$U joined the Big 10 in 2024, and then the ACC invites UConn and WVU to join (gettin' the old Big East band back together).
Assuming that ESPN continues to pay the ACC the same amount of money for games (and since the ACC TV contract is so BELOW fair market value, I fail to see how UConn and WVU would force ESPN to pay even less), then The Worldwide Leader could still pay the same to the ACC that they've always paid...
AND they would have the rights to broadcast UM and F$U home games. But the MONEY would go to whichever conference UM and F$U are in.
And before your head explodes, realize that this is the MOST LIKELY outcome when a conference goes and does stupid **** like creating two separate contracts to do what ONE contract should do in the first place.
Here are the two big issues:
1. Yeah but...ESPN doesn't currently have a contract with the Big 10. EXACTLY. Which is why they might want to do this, to get their foot back in the door with the Big 10.
2. But but but, what about the AMOUNT of money...this one is interesting. ESPN has the RIGHT to broadcast Miami and F$U home games...but for how much? The same peanuts they were offering the ACC? Probably not. A Miami-Ohio State or F$U-Pedo State matchup is going to be worth more money than Miami-BC or F$U-Syracuse.
3. And and and, what about the ACC? Again, if the ACC negotiated a TV deal ON BEHALF OF THE CONFERENCE FOR XX NUMBER OF GAMES EACH YEAR, then assuming ESPN still offers to pay the SAME (which is what they did with the Big 12 a few years ago when Nebraska/Mizzou left), then the ACC has not been harmed IN ANY WAY by the change of teams, at least for the TV deal.
On this third point, I have some experience, as the NASCAR TV deal with Fox/NBC/ESPN and/or whoever else had various rights (Speed Channel when it existed) was for RACE WEEKENDS. Therefore, if we moved race dates around between various racetracks, then the networks couldn't come back and say "hey, we want to renegotiate". Thus, if you move a race date from, say, Los Angeles to, say, Kansas, the networks can't say "but we're going to get lower ratings for a second race in Kansas that doesn't bring in the celebrities like LA does".
Events. Games. Time slots. As long as the ACC delivers those and ESPN pays for those, then there is no TV DEAL HARM that impacts the ACC if they have to take UConn/WVU to replace Miami/F$U. In other regards, sure, which is what the $120M exit fee is designed to pay for.
And then ESPN gets back into bed with the Big 10 (albeit for more money).