Unhappy Florida State calls emergency board meeting

The fallout from Florida State's College Football Playoff snub continued Thursday as the school called an emergency meeting of the board of trustees for Friday morning.

No official reason for the meeting was announced but ESPN and other media outlets said the board plans to discuss the long-term future of Seminoles athletics — including a potential exit from the Atlantic Coast Conference.

Earlier this month, Florida State (13-0) became the first undefeated Power 5 conference champion to be left out of the College Football Playoff, which selected undefeated Michigan and Washington and one-loss teams from the Big 12 (Texas) and Southeastern Conference (Alabama).

The Seminoles instead are scheduled to face Georgia (12-1) in the Orange Bowl on Dec. 30 in Miami Gardens, Fla.

Multiple reports say the CFP snub exacerbated Florida State officials' dismay with the current conference affiliation, including frustration over the widening revenue gap between the ACC and other leagues.

Any ACC school looking to leave the conference would have to successfully challenge the grant of rights. According to ESPN, Florida State and the other members have signed a grant of rights with the league that runs through 2036, the length of its television deal with ESPN.

In addition, a school would have to pay an exit fee of about $120 million to leave the ACC, per ESPN.

Stanford, Cal and SMU are set to join the ACC next year, an expansion that Florida State had opposed. Florida State has argued for unequal revenue sharing, pointing to its brand value and TV draw.

—Field Level Media