Big East commissioner Mike Aresco told reporters on Monday that the conference wants to add another school and sign a television contract with multiple networks.
Aresco said the conference wants to retain its name after rebranding, including having 12 teams playing football and basketball after Navy joins in 2015.
He said he hopes traditional rivalry games will remain in place after the "Catholic Seven" schools leave to form their own basketball conference.
DePaul, Georgetown, Marquette, Providence, Seton Hall, St. John's and Villanova announced in December they are withdrawing from the Big East to form their own basketball-only league.
The seven schools and Big East are negotiating a break after one more season, according to ESPN.com. The schools each have to pay a $10 million exit fee if they leave next year, under the current conference bylaws. The schools want to wait two years to avoid the fee.