ESPN Regional Television is expected to hold a press conference tomorrow to make a "major" announcement regarding the launching of a new men's holiday basketball tournament in conjunction with the University of Hawai'i, according to parties familiar with talks.

North Carolina-based ERT, which owns and operates the Sheraton Hawai'I Bowl, apparently would run the event run opposite the six-year old football game in December beginning in 2009.

"This would be huge for UH — and Hawai'i," said a businessman with knowledge of the situation.

The Rainbow Classic, which celebrates its 45th year this season, has traditionally occupied either a pre- or post-Christmas slot. It is expected to remain but may not continue as an eight-team event.

A figure familiar with the concept said it would be similar to the Maui Invitational, which is held in November. ESPN televises the Maui tournament but it is owned by the Kemper Group of Chicago.

Pete Derzis, senior vice president and general manager of ERT, attended last night's UH-Louisiana Tech football game but declined comment.

UH athletic director Jim Donovan was out of town today and unavailable for immediate comment.