Big East Catholic schools to breakaway from league

On Thursday morning, it was being reported that the Catholic basketball-only teams were considering to break away from the rest of the Big East, but now USA Today is reporting that the seven schools are leaving the league.

The seven schools who are on their way out are Villanova, Marquette, St. John's, Seton Hall, Providence, Georgetown and DePaul, however a decision to leave the Big East has not been decided, due to their future league affiliation is still up in the air.

ESPN is making it official as of 7 p.m. ET:

BREAKING: Sources: 7 schools agree to leave Big East: Marquette, DePaul, St. John's, Georgetown, Providence, Seton Hall, Villanova.

— SportsCenter (@SportsCenter) December 14, 2012

The basketball schools met in New York City with commissioner Mike Aresco on Sunday night to show their frustration over where the league was headed. Aresco has made attempts to make the basketball schools happy, but little movement has occurred.

There are two options that these basketball members have. First, they can all leave the league as a group, and that would mean these schools would lose any money owed to them through exit fees from schools leaving. However, they would not have to pay an exit fee, but also they would not be able to retain the Big East name.

The other option is to utilize their majority and just dissolve the Big East in its entirety. The league would pay off its debts and any assets left over would be divided up among the 10 total schools.

While these schools do not generate a lot of revenue for the upcoming Big East contract, but it will drop the money some and make the amount that Boise State and San Diego State would earn go down. Plus, the sense of hatred and want to leave the league must have those two school's athletic departments thinking hard about the move.

The way the league is losing members left and right has to make those schools rethink their move, but that has yet to happen.