Updated

The Missouri Valley Conference set a news conference for Friday on the Loyola of Chicago campus, two days after a person familiar with the situation said the school had accepted an invitation to join the Valley and leave the Horizon League.

The Valley said in a release Tuesday that conference commissioner Doug Elgin and Loyola president Michael Garanzini, athletic director Dr. Grace Calhoun and men's basketball Porter Moser would speak at the news conference.

Loyola replaces Creighton, which jumped to the new Big East. The move takes effect on July 1.

Loyola hired Sheryl Swoopes as women's basketball coach last week in hopes the three-time WNBA MVP would raise the profile of that program. The school in recent years has opened a new multipurpose athletic facility and remodeled its arena.