The seven Catholic schools will be officially leaving the Big East and beginning a new league on July 1, sources confirmed to CBSSports.com.
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An announcement is expected on Thursday in which the the seven schools -- DePaul, Georgetown, Marquette, Providence, Seton Hall, St. John's and Villanova -- will retain the Big East name and also the deal to hold the conference tournament at Madison Square Garden in New York.
The seven schools will add Xavier and Butler for the 2013-14 season, and sources told CBSSports.com that Creighton will likely be the 10th school, and could be added for next season as well.
The Catholic 7 -- as it's been deemed -- is also expected to announce a new TV deal with the new Fox cable channel worth approximately $3 million per school. The new league will also pick a new commissioner soon.
The remaining schools in the league, which is working on a new name and also a site for its conference tournament, are Central Florida, Cincinnati, Connecticut, East Carolina, Houston, Memphis, South Florida, SMU, Temple, Tulane. Navy will join the league in 2015.