If that's the way it's going to be, then so be it. Hopefully they (the Big East effectively as of 2013-14) would find a way of explaining how they would drop football to be a non-football basketball-specific all-sports-sponsoring conference while the former Big East with the football schools (UConn, South Florida, Cincinnati and company) would begin their new chapter as an all-sports conference, but with football to sponsor.
You're over thinking it.
The Big East Conference will be renamed on July 1st, 2013; but it will still be the same conference and retain the history, offices, TV deals, NCAA autobids/tourney payouts etc. under its new name just like when the PAC10 changed its name to the PAC12. They may claim to be a new conference and may not acknowledge their rocky past however if they were to do that the exit fees/tourney payouts would disappear.
One July 1st, 2013; a new conference will be formed called the Big East, their history will show that they were founded on July 1st (or possibly tomorrow) 2013.
My question is that IF the let the Catholic 7 go this year, don't Rutgers/Lville/ND have a pretty good case for leaving too a year early? Obviously the ACC will hold onto Maryland but they could play as a 16 team league for a year.
Also will they go ahead and add Tulane, East Carolina (all sports), and Tulsa, as founding members of this new conference, or make them wait a year before coming on?
And I still think they need another Western member to balance the league as we know Cincy doesn't want to move South.
West: Tulsa, SMU, Houston, Tulane, Memphis, ??? (not Navy/UMass, likely Rice or SoMiss)
East: USF, UCF, ECU, Cincy, Temple, UConn (and possibly Navy)
Fan of the Big 12 Conference, the Mountain West Conference and...