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SYRACUSE, N.Y. -- This season will be the last Syracuse University's sports teams compete in the Big East Conference. The two sides reached agreement on the school's departure Monday.

Under the deal, the Big East members will vote to terminate SU's membership in the Big East effective July 1st, 2013. Syracuse will then officially join the ACC.

SU Athletic Director Daryl Gross says they plan to recognize the team's conference history throughout the fall, winter and spring seasons, but this is a big step in the right direction for the athletics programs.

"This is a very historical moment for Syracuse Athletics. We're going to have an opportunity to go after some major goals that we've set for ourselves and without wonderful head coaching staff, this just bodes well for a great future for Syracuse Athletics," Gross said.

As part of the departure agreement, SU will have to pay the Big East $7.5 million in cash.