ACC presidents and chancellors will meet early Wednesday morning to vote on the addition of Louisville to the league, according to Dave Glenn. Louisville's addition would obviously replace Maryland and might actually be a net gain from a football/basketball performance perspective.
The Cardinals' basketball program is stable under Rick Pitino, and the football program seems to be on the rise under Charlie Strong. They have excellent fan support for both programs, and the league could use a boost on the football front. This is a rare opportunity for the ACC to add a school it could legitimately argue improves the league's football culture.
Louisville should have been added to the ACC long before Boston College or Syracuse or Pittsburgh. Louisville fits from a geographic perspective, and its revenue sports have been good for years, with no reason to expect near-term decline. The sticking point, at least based on what I've heard, was academics. This also kept the ACC from courting West Virginia, which is in the ACC footprint but doesn't meet whatever academic standards are supposedly important to an athletic conference.