ESPN has agreed to exercise its option to continue broadcasting Atlantic Coast Conference sporting events through 2036.

“We appreciate the ongoing partnership with ESPN and their enduring commitment that further solidifies the ACC as a premier league in all facets,” ACC commissioner Jim Phillips said in a statement Thursday. “The extension showcases the importance of our long-standing relationship, and I want to personally thank the entire ESPN team for their leadership and dedication to our collective future.

“In addition, I want to thank our ACC Board of Directors who have been involved throughout this entire process. The resolve from both parties to further enhance the partnership through innovation and creativity to continue to drive additional value remains our top priority.”

ESPN had until Feb. 1 to pick up the option on a 20-year contract it signed in 2016. The deal would have ended after the 2027 season had the network declined to do so.

“We remain committed to serving the ACC, its member schools, student athletes and fans via comprehensive live game coverage, storytelling and broad exposure across our unprecedented array of networks and platforms, including ACC Network,” ESPN chairman Jimmy Pitaro said in a statement. “The ACC is a pillar of ESPN’s leading commitment to college sports and we are thrilled to continue the partnership over the next decade.”

The conference reportedly is working on how to create more marquee games in football and men’s basketball. Those “value adds” are expected to help increase a new revenue distribution model as the ACC works toward a settlement with Clemson and Florida State.

Per ESPN, a proposed plan has a percentage of the ACC’s television revenue included in a “brand” fund — with that money going to schools that annually generate the most revenue for the league in football and men’s and women’s basketball.

Should that come to fruition, Clemson and Florida State likely would drop lawsuits that they currently have against the conference. The Tigers and Seminoles are suing the ACC in an attempt to back out of the conference’s grant of rights.

With the grant of rights, which is in effect through 2036, Clemson and Florida State’s media rights are attached to the conference itself.

Multiple athletic directors have said that this also could affect Notre Dame as a means to create additional games against top-tier teams within the conference, according to ESPN’s report.

–Field Level Media