Sounds like it's a hedge against FSU, Clemson, and UNC defecting. Makes it harder to invoke the rumored renegotiation clause in the TV deal, or to get the votes to dissolve the conference altogether (which I maintain would be WAY messier than a simple majority vote, even if such a vote is the key part of the process).

As a fan of a B12 team, I'm still feeling pretty sanguine about being part of a "power 4", but this does up the odds of the ACC surviving in a reduced but largely intact form. Kudos to them for being less stupid than the PAC.