Pitt Athletic Director Steve Pederson said the school and the league have agreed to waive a 27-month notification period for departure enforced under Big East bylaws, thus allowing Pitt to join the Atlantic Coast Conference a year early.
"We have appreciated and enjoyed our membership in the Big East and wish them much success in the future," Pederson said. "We are anxious to compete in our final season in the Big East and look forward to an exciting future in the Atlantic Coast Conference."
Syracuse this week worked out a deal to leave the Big East early in exchange for a cash payment of $7.5 million to the conference.
In a major reshuffling, the Big East will regain Temple in football this fall, with the Owls becoming a full conference member for 2013-14, while Boise State and San Diego State were added as football-only members.
Memphis, Central Florida, Houston and Southern Methodist will join in all sports starting in 2013-14, while Navy will join for football in 2015.