While the Boise St. Broncos have not been officially extended an invitation to the Big East, the school anticipates receiving one and plans on accepting it. The school has asked the State Board of Education (PDF, p 601) to approve such a move when it occurs (h/t to Brian Murphy of Idaho Statesman) by giving Boise State president Bob Kustra the power to do so
Boise State expects to receive $3.7 million in revenue by joining the conference, but it is also a figure that could rise once the Big East renegotiates its television rights. Additionally, the school will not pay the $5 million exit fee since it will notify the Mountain West Conference of its departure more than a year in advance of the 2013 move.
Boise State moved to the Mountain West in 2011 and will now need to find a new conference home for its other sports. The Air Force Falcons are also part of the current Big East expansion rumors, but there is no movement in that direction yet. Air Force, if it left the Mountain West, would also need to find a new conference home for its other sports.
For more on the Mountain West and possible realignment, visit Mountain West Connection.