Although Fox isn't supposed to meet with the "Catholic 7" until Wednesday in New York City, it is being reported that Fox has set an initial TV offer of 12 years and $500 million.
According to ESPN.com's report, the non-football schools in the Big East receive $2-3 million yearly from the present Big East TV deal, though the Providence Journal and other outlets have placed the figure around $1.5 million (or less). It is expected that the 7 departing schools will earn approximately $5 million on an annual basis from a new TV partnership.
If the Fox offer is true in terms of numbers, there would be a little over $41 million divided amongst the league each year. Let's say the conference expands to ten teams; that's $4 million per school, but sources indicate that the 7 universities leaving the Big East would ask the schools that they invite to join them in founding the league to take a smaller share of TV revenue, at least initially.
The Xaviers and Butlers of the world might not like that set-up, but the 2.33 million that those schools would earn under this arrangement is still dramatically bigger than the television payout from playing in the Atlantic 10, which is less than a half-million. Currently.