AP Source Says Big East Football to Keep $100 Million in Split 3/6/13
UNDATED - The Big East is a step closer to a major facelift.
A person familiar with the negotiations tells the AP that the conference football schools will get almost all of a $110 million pot in a deal that will allow seven departing basketball schools to keep the name Big East and start playing in their own conference next season.
The agreement has yet to be finalized but it's likely to happen by the end of the week. The football schools will receive approximately $100 million in the deal, most of which will go to holdover members Connecticut, South Florida and Cincinnati.
The basketball schools will receive $10 million, the Big East name and the right to play their conference tournament at Madison Square Garden.