Sounds like, from this guy anyway, that it's just a better of negotiating the right price, but that the Big East ultimately is going to sell the name/brand to the Catholic 7.
Which is great news IMO.
But, if that is happening; then I think those of you that are holding out hope that Gonzaga and St Marys will be in the new league can forget it. They won't pay for the BE name, and then invite two or more teams from the west coast.
http://ajerseyguy.com/PS it appears he is a legit a reporter, despite the fact he's posting this on his own personal blog.