Under Armour's Plank not contributing to Maryland's ACC exit fee

Under Armour Inc. CEO Kevin Plank, a graduate of the University of Maryland and major booster to the college’s athletics department, will not contribute to the school’s $50 million Atlantic Coast Conference exit fee.

Diane Pelkey, a spokeswoman for the Baltimore sportswear maker, said rumors speculating that Plank would financially back the Terrapins’ move to the Big Ten in 2014 “are completely false.”

Plank graduated from Maryland in 1996 and captained the football team’s special teams…