The newest addition to the Big East bowl lineup was officially announced Wednesday morning, as starting next season, the league will send its third or fourth team to a new postseason bowl at Yankee Stadium in New York, against the No. 7 team from the Big 12. The game will be played between Christmas and New Year's Eve.

New York mayor Michael Bloomberg called his city "the biggest college town in the country" in announcing the game, which he said will have a projected economic impact of $47-million from 40,000 visitors.

You can watch the news conference at 10:30 a.m. Wednesday live from the Big East's website.

"No one does big events like New York City and there is no better place to be during the holidays than in New York," said Yankees president Randy Levine in announcing the game, which is still officially pending NCAA bowl certification.

Levine said the bowl has not been officially named and will seek a title sponsor -- it's been informally coined the Yankee Bowl in the interim. It's actually not the first college football bowl game to be hosted in Yankee Stadium -- the Gotham Bowl was played there in 1961 and 1962.

The Big East now sends its champion to the BCS and its No. 2 team to the Champs Sports Bowl in Orlando. The Yankee Bowl and the Meineke Car Care Bowl in Charlotte will take the third and fourth picks, with the St. Petersburg Bowl and the Papajohns.com Bowl in Birmingham expected to share the fifth and sixth teams over the four-year cycle that runs from 2010 to 2013.

This means of the Big East's five non-BCS bowl contracts, all but one should feature contracted opponents from BCS conferences, if the St. Petersburg Bowl maintains its relationship with Conference USA.