A deal that allows the Big East's seven Catholic schools to retain the conference moniker while leaving the league this summer is expected to be announced Thursday, sources told ESPN.com.
The Catholic 7 -- DePaul, Georgetown, Marquette, Providence, Seton Hall, St. John's and Villanova -- will be able to keep the Big East name and play their league basketball tournament at Madison Square Garden, according to the report.
The new Big East, which is expected to also include Butler and Xavier and probably Creighton, will form on July 1 and begin play next season, the ESPN sources said. The league could add Dayton and St. Louis for the 2014-15 season.
The remnants of the Big East will form a new 10-team league, which will be named July 1. That conference will include Connecticut, Cincinnati, East Carolina, Houston, Memphis, South Florida, SMU, Temple, Tulane and UCF. Navy will join in 2015, and Tulsa could join in 2014 or 2015, ESPN's sources said.
Louisville, Notre Dame, Pittsburgh and Syracuse previously announced their departures from the Big East for the ACC. Rutgers is going to the Big Ten, and West Virginia is going to the Big 12.