Each Bally regional network entered into an agreement with each MLB. NHL, and/or NBA team in that region for the local broadcast rights for that specific team. None of the contracts are with the league as the league has contracts with the national networks for the national rights to games. The local broadcaster still gets to broadcast those games locally. The CW ACC package was the old contract with Raycom that Raycom subleased from ESPN. Bally subleased that from ESPN until Bally went into bankruptcy, and at bankruptcy, the CW purchased that contract to sublease the games from ESPN. A sublease has no effect on the Grant of Rights between the ACC and its member schools. If ESPN wanted to, it could sublease all of the ACC content out to The CW, ION, and Time-Warner/Turner for more that what they pay the ACC and pocket the difference. It's no different than what the B1G is doing, all of the league's TV rights belong to the B1G Network, and the B1G Network subleases the content to NBC/Universal, CBS/Paramount, and FOX.