After new rumors surfaced last weekend of more conference realignment, the Big Ten Conference announced Monday afternoon that the University of Maryland has been admitted to the league.

According to a press release sent out by the Big Ten, Maryland applied for admission into the conference Monday morning. After all 12 league presidents and chancellors discussed the application over a conference call, a unanimous vote was cast in favor of admitting the Terrapins.

"Indiana University is pleased to welcome the University of Maryland, one of our nation's leading public research universities, to the Big Ten Conference," Indiana University president Michael McRobbie said. "Like IU, the University of Maryland is a member of the prestigious Association of American Universities and has experienced exceptional success both in the classroom and in the athletic arena, which makes the university an excellent fit for our conference."

A part of the Atlantic Coast Conference (ACC) since 1953, Maryland has an extensive athletic history, however has recently struggled in maintaining its athletics programs. Only one year ago, the school cut eight sports in order to save money.

Its move to the Big Ten will improve the university's financial situation, UMD president Wallace Loh said, allowing the athletic department to potentially reinstate those teams.

Maryland will become a full-time member of the Big Ten on July 1, 2014 and plans to participate in all sports starting in the 2014-15 season. The university will become the 13th member of the conference and the newest since Nebraska joined in 2011.

Rumors surrounding the situation suggest the Big Ten will also add Rutgers University on Tuesday, making the conference a 14-team league. It is expected that both schools will enter the Leaders Division and that Illinois will move to the Legends Division.

This story will be updated.

UPDATE -- Full statement from Indiana University president Michael McRobbie: "Indiana University is pleased to welcome the University of Maryland, one of our nation's leading public research universities, to the Big Ten Conference. Like IU, the University of Maryland is a member of the prestigious Association of American Universities and has experienced exceptional success both in the classroom and in the athletic arena, which makes the university an excellent fit for our conference. All of us at IU look forward to working alongside our fellow member institutions in facilitating the university's successful integration into the Big Ten and building a long-lasting relationship with its administrators, coaches, faculty, student-athletes and fans"

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