BRISTOL -- Bruton Smith is eagerly awaiting the arrival of Tennessee athletic director Mike Hamilton tonight at Bristol Motor Speedway.

Smith, the 78-year-old chairman and CEO of Speedway Motorsports Inc., reiterated his offer Friday to pay the Vols and Virginia Tech $20 million each to play a football game at the race track.

"I think it would be very exciting," said Smith, sharing his vision of the super college football game with NASCAR's national media during Sharpie 500 qualifying. "We could set some all-time records for the largest football game ever.

"I have no concern ... they either want the money or they don't.''

Smith has become known for his grandiose projects in the NASCAR and NHRA circles, and he seems quite intent on bringing his P.T. Barnum-like ways into collegiate football.

Hamilton sounds amused -- as well as interested -- by the idea. But UT's athletic director also made it clear that business is business.

"At this time we haven't seen any kind of proposal,'' Hamilton said Friday. "I'm willing to think outside the box, but I'm going to think in a calculated fashion.

"If the money is there, and it's good for college football and the University of Tennessee, I'm more than happy to give it great consideration.''

Likewise for Virginia Tech.

"Of course, we're willing to listen,'' Virginia Tech athletic director Jim Weaver told the Richmond Times-Dispatch. "We'd love to play Tennessee, we've been interested in that for years.''

Hokies coach Frank Beamer said he's very familiar with the concept.

"Every time I go to that Bristol race, people will come up to me and say, 'When are you playing Tennessee?' '' Beamer told the Daily Press in Hampton Roads, Va. "But they didn't ever mention that kind of money.''

Smith said the game would have to take place in November, because of the logistics involved in transforming the track's infield into an artificial playing surface. Smith said he sees it as a one-time event.

Hamilton said the addition of the 12th game makes a matchup between the two schools a possibility as early as 2009.

Hamilton also said, however, that it's possible the Vols could buy out of an earlier scheduled non-conference game should this idea come to fruition and all things fall in place.

For now, it's "Show Me the Money,'' as far as Hamilton is concerned.

"I've been around town, and everyone is kidding me about it, saying something about it,'' Hamilton said. "My question is, how in the world do you make that happen financially? If you sell 170,000 tickets, at $100 a ticket, that's $17 million.''

Smith seems intent on making it happen, profitability be damned.

"We may or may not make a profit,'' Smith told the Daily Press. "I don't know. It's just something that's a challenge. I'm the one that's going out on a limb. I'm putting up the $40 million.''

Smith said he believes it would be a challenge for the schools to sell out 170,000-plus seats.

Hamilton said it could be done.

"I think if you're talking about Tennessee and Virginia Tech, you wouldn't have any problem putting 170,000 in the stands,'' Hamilton said. "But I'd like to see a proposal, first.''

Smith pitched the idea in 1999, but the offer then was approximately $3.5 million per school. UT nets about $3.25 million per home game, and Hamilton said a non-title BCS bowl game appearance would clear about $1 million for the Vols.