From the ACC Bylaws, we know

"The Television Committee is authorized to negotiate the terms and conditions of contracts involving telecast of packages of football games and men’s basketball games. Such contracts shall be submitted to the member institutions for
approval, disapproval or suggestions and recommendations, consistent with the terms of Conference contract policy..."

"Negotiations for future television contracts shall be conducted by the Commissioner with input from a television subcommittee appointed by the Commissioner, in consultation with the President of the Conference. The subcommittee shall be comprised of representatives from faculty athletics representatives, athletics directors and senior woman administrators."

"Discussions and recommendations from the television subcommittee will be reported out to the full television committee. The television committee will review the proposed terms and conditions of the agreement(s) and make their recommendations to the faculty athletics representatives for their consideration and approval by two-thirds vote of the members of the conference."

"If practicable, television contracts should be in written form and signed by the participating parties within 60 days of the time of the agreement. If possible, said contract(s) shall be signed no later than 30 days prior to the first televised event of sports covered within this agreement."

To that end, we also know that the AD's just spent three hours face to face with their consultant and ESPN. We know the meeting ran an hour longer than it was scheduled. We also know that this occurred AFTER the B1G/Fox phase 1 announcement.

I'd say there is no reason for Babcock or any AD to not be absolutely current on the issue and I don't think you are suggesting the landscape for ESPN changed substantially in the last few days.

No deal is done until it is signed, but imo, these folks all know where they want to go. As Cobb posted, they are more likely entering the carriage fee negotiation stage, which is a necessary step for a "network", regardless of what form it takes.

If you want to believe the internet, they may also be updating some of the contracts and GoR in that 60 day window refenced above, which means they would also have had some kind of vote.