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USA Today reports ACC site visits to take place Thursday and Friday at Miami and early next week at Boston College and Syracuse. BC AD tells Boston Globe invite to ACC would insure BC's future in big time NCAA athletics.
In short,this is going to happen in June and all of the conference realignments start.

This realignment will be the last big one for a long time so this will be our big chance to position ourselves as a program that is ready to reclaim our spot as a major
player in NCAA Div.1A. Other schools who aren't as fortunate as us to be in a large TV market and have a new stadium will fall by the wayside over the next few years. I believe we can be one of the few current non BCS schools that can be positioned for success in the future if our AD and President have a good road map and committment for the future from the Trustees.
It would have been better if we had another year or two for our football team to improve under Phil but we have to sell that potential to the schools we want to be aligned with now to be positioned for the future.

I've read differing reports: are all the proposed conference re-alignments going to go into effect this year? 2004? Later than that?

ACC realignment would start with 2005 football season.

I suspect they will take effect in 2005 or 2006, because schedules would need to be reworked. If they go to 12 teams, I wonder what effect that will have on our scheduled games with Wake Forest in 2005 and 2006? I understand that those were part of a home and home basketball deal which concludes this year.