The move is a huge step in the right director for the league to secure stability with the teams it current has in place and the ones slated to join.
The deal, which is effective immediately, means any school that leaves the conference for another conference would leave its TV rights behind, in addition to paying an exit fee to the conference.
There had been some rumblings that several teams in the ACC were still looking at or being targeted by other conferences.
"This announcement further highlights the continued solidarity and commitment by our member institutions," commissioner John Swofford said. "The Council of Presidents has shown tremendous leadership in insuring the ACC is extremely well positioned with unlimited potential."
As reported by the Associated Press, the deal essentially locks schools into the ACC through the existing TV deal, including those schools that will eventually arrive in the conference – Pittsburgh, Syracuse, Louisville and Notre Dame.
The ACC is the fourth major conference to approve a grant of TV rights, joining the Big 12, Big Ten and Pac-12.
According to the ACC release, the agreement was unanimously signed by the future league membership: Boston College, Clemson, Duke, Florida State, Georgia Tech, Louisville, Miami, North Carolina, North Carolina State, Notre Dame, Pittsburgh, Syracuse, Virginia, Virginia Tech and Wake Forest.
Louisville will join the league in the fall of 2014.