The NBC Sports Network next week will officially offer the Big East Conference between $20 and $23 million per year to acquire the conference's media rights, reports ESPN.com.
Meanwhile, Big East's Catholic 7 basketball schools are close to reaching a deal with Fox Sports.
ESPN currently holds the rights to the Big East and they will have an opportunity to match the deal. ESPN declined to renew the Big East's rights in November as the conference was seeking a $300 million per year deal with the network. The Big East's current deal is worth $3.12 million annually for each of the eight full members and $1.5 million annually for each of the non-football members.
The Catholic 7 schools -- DePaul, Georgetown, Marquette, Providence, St. John's, Seton Hall and Villanova -- haven't formed a new league yet, but Fox Sports has been the leader for their media rights, sources said. Fox Sports' offer would be worth between $30 million and $40 million per year depending on how many teams are in the league, sources said.