Contract between UT and Bristol Motor Speedway
The agreement between the Vols, Virginia Tech and the track was released by UT on Monday in response to an open-records request by the News Sentinel.
Each school will be provided with 40,000 tickets to sell to fans from which they can earn up to $4 million. If the game is a sellout, each team will receive $300,000 in bonuses. Smaller bonuses can be earned for meeting the 125,000 or 132,500 mark.
The speedway will cover all costs normally associated with staging a college football game, but will receive all parking revenue, including passes sold by the team, and reserves the right to sell sponsorships -- including a “title sponsor” -- for the game.
Montage from announcement of Tennessee-Virginia Tech game at Bristol Motor Speedway
Bristol agreed to purchase insurance in the event the game is canceled. UT and Tech would each receive $4 million if the game is canceled prior to kickoff, although a portion would be withheld if the postponement was due to “acts of God” or a natural disaster.
Other notes from the contract:
* Tennessee will be officially designated as the home team and will wear orange.
* Officials from the Big 10 will staff the game.
* Five thousand tickets of the teams’ 40,000 allotment must be priced at $40 or less.
Evan Woodbery covers Tennessee football. Follow him on Twitter.