What was the rationale behind the UNC & NC State ACC expansion “no” votes?

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The original was posted on /r/cfb by /u/mattpeloquin on 2023-08-12 18:05:40.

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Theory Time:

What was the rationale behind the UNC & NC State expansion “no” votes?

A 🚩both want to leave?

Given the new performance based ACC payouts & that new programs = additional ESPN rev to cover the new schools, it’s a bigger pot for the top teams to take from.