October 23, 2014
NEW YORK (AP) - A person familiar with the negotiations says the Big East 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 person spoke to The Associated Press on condition of anonymity because the separation agreement has not yet been finalized. That is 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.