This is exactly the case. The ACC ND deal, which is protected by a Grant of Rights, is:
1) ND gets to be ACC in every sport except football and hockey (there is no ACC hockey(
2) ND has to play 4-6 ACC teams a year, a combination of home and away
3) all ND away games vs ACC teams are shown via ESPN/ABC and are part of the ACC deal with that network
4) all ND home games vs ACC teams are shown on NBC, and the ACC is NOT included in any deal with NBC
5) If ND joins any conference in football other than the ACC, it must pay an exit fee to the conference, probably many tens of millions of dollars.
It was a god awful, stupid, zero benefit deal for the ACC who has continually stepped on its own junk to protect its self image as an "elite academic, basketball first conference" in a world where basketball might as well be ping pong relative to the amount of money football makes.