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 President of the Greensboro Sports Foundation Richard Beard spoke to FOX8 on Thursday in front of the ACC Hall of Champions and detailed what he can about what’s been offered from the city.

“We’ve put together a competitive package to compete for this project. We’re not going to get into the details of the financial part of it,” Beard said.

He went on to say that the potential renaming of the Coliseum which has hosted a record 28 ACC Men’s basketball tournaments and a record 22 Women’s Basketball tournaments has been known behind closed doors for some time.

“That came out of the gate early on. It just shows our commitment to the ACC in this community. That’s a very valuable asset for the ACC to name our coliseum the ACC Coliseum,” Beard said.

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.

“Had we not gone through this effort and been as aggressive as we have, the decision may have already been made,” Beard said. “You don’t find that history in these other communities…personally, I feel like they will get lost a little bit. But we’re going to continue hosting championships that the ACC produces. If they choose to move out of Greensboro, we’re still going to be a host of ACC championships, and that’s very important to us.”

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.”