The seven non-Football Bowl Subdivision schools of the Big East Conference may soon be leaving the league.
A source told ESPN Wednesday that the schools are "close to a consensus on what they want to do next."
Several sources have reported that the schools, DePaul, Georgetown, Marquette, Providence, St. John's, Seton Hall and Villanova, will soon make an announcement about their separation from the Conference.
According to the New York Post, the separation would be announced Thursday; however, a source told CBSSports.com that an announcement would not be made that quickly.
ESPN reports that the presidents of the seven schools were in negotiations with Big East commissioner Mike Aresco via teleconference Thursday morning.
When an official statement will be released is still unclear as a source from one of the schools told ESPN that "our presidents continue to explore all possibilities."
It is not certain what will happen to the schools, or the Conference as a while if a separation does occur.
One scenario suggests that the Big East may disband all together. Another suggests that the schools separating could establish their own Conference. Another suggests that the split may pave the way for the schools to join other leagues, such as the NCAA tournament.
"Lawyers are going to have to sort it all out," a source told CBSSports.com.
"I don't think anybody knows exactly how this is going to happen. They just know it's time to separate."