GREENSBORO, N.C. (WGHP) — The Greensboro Coliseum might not be the “Greensboro Coliseum” much longer if the Atlantic Coast Conference takes the city up on its offer.

On Thursday, Greensboro Mayor Nancy Vaughan and Guilford County Board of Commissioners Chair Skip Alston issued a joint statement as the ACC continues searching for its headquarters.

Vaughan and Alston say that they have been assured that the ACC has not yet made a decision and Greensboro remains a finalist:

“As the birthplace of the Atlantic Coast Conference and its steadfast partner for the past 69 years, our community remains committed to supporting the success and growth of the conference in the coming years. The $15 million in the North Carolina General Assembly’s proposed budget bolsters our efforts to keep the ACC headquartered in the state.

We have been assured that the ACC has not made a decision on its headquarters at this time and that Greensboro remains a finalist. We believe we have made a strong case for the ACC to remain in our community, one that addresses the conference’s need to accelerate its brand and respond to the changing times in intercollegiate athletics. This includes an offer to rename our arena, which is the largest arena in the ACC conference, the ACC Coliseum.”

The ACC belongs to a group of conferences colloquially known as the “Power Five” which includes the Big Ten, Big 12, Pac-12 and Southeastern (SEC) Conferences.

The “Power Five” conferences are the largest revenue-earners in the National Collegiate Athletic Association (NCAA) and thus have large influences on NCAA policy as well as economic impacts on the regions they inhabit.

Just as an example of the economic influence that these conferences have, the former University of North Carolina at Chapel Hill Head Men’s Basketball Coach Roy Williams was at a time the highest-paid public employee in the state of North Carolina.

UNC is one of the founding members of the conference based in North Carolina, alongside North Carolina State University, Duke University and Wake Forest University.

The four North Carolina schools alongside Clemson University, the University of South Carolina and the University of Maryland formed the ACC at the Sedgefield Inn in Greensboro on May 8, 1953, after withdrawing from the Southern Conference.

The Greensboro Coliseum has been a key part of ACC history ever since, being the ACC Men’s Basketball Tournament’s most frequent location.

Due to the state of North Carolina still being the ACC’s strongest foothold, it is unlikely that the conference would relocate out of the state entirely.

The City of Charlotte has been heavily rumored as a contender for the ACC Headquarters to be relocated. The conference already has made a footprint in Charlotte hosting several ACC Men’s Basketball Tournaments of their own. Bank of America Stadium in Charlotte is also now the permanent home of the ACC Championship game for football.

The City of Charlotte released this statement:

“Charlotte is interested in keeping the ACC headquarters in the state of North Carolina. We believe their presence is important to the state as a whole.”