On Wednesday, the Charlotte Sports Foundation (CSF) announced that the Virginia Cavaliers and West Virginia Mountaineers will square off in a pair of football games at Bank of America Stadium in Charlotte, N.C.
Virginia and West Virginia will meet in Charlotte on Sept. 19, 2026 and then again six seasons later on Sept. 4, 2032.
FBSchedules.com obtained a copy of the term sheet for the games from West Virginia University via a state Freedom of Information Act request. The agreement between the schools and Charlotte Sports Events, LLC (CSE) was finalized on November 1, 2024.
Per the terms of the agreement, Virginia and West Virginia will each receive a guarantee of the greater of $2 million or 45% of “Net Revenue” derived from each of the games. Below are the details on the calculation of Net Revenue:
“Net Revenue” shall equal “Total Income” less “Games Expenses.” Total Income shall be the sum of (i) total ticket sales revenue, less applicable taxes; (ii) sponsorship fees (net of applicable commissions); (iii) media rights, if applicable; and (iv) merchandise sales. Game Expenses shall be the sum of all customary and reasonable fees to stage and conduct the Games, including the following: ticketing expenses, stadium costs, game operations, CSE management fee, events expenses, marketing and promotions, stadium rent, and other operating expenses.
For illustrative purposes, CSE created an exhibit detailing the potential Net Revenue based on total ticket sales. If 57,992 tickets are sold, the expected payout to each school would be $2,548,517. If the game is sold out, the expected payout would be approximately $3,309,396 to each university.
Each school is required to purchase 10,500 tickets for each game (inclusive of 500 complimentary tickets for each school’s band for each game). The schools also have the option of purchasing only 8,500 tickets valued at no less than $1.7 million, which works out to $200 per ticket. CSE will also provide two luxury suites for each school for both games.
Regarding television details, there aren’t many. Below is the section on television from the term sheet:
Participating Universities, in conjunction with their respective broadcast partners, will work in good faith to determine home and away designations for a national broadcast of the Games.
Essentially, the television details will be worked out later. Each school will presumably be the home team for one of the games and the visitor for the other with the ACC and Big 12, in concert with their television partners, determining the broadcast details.
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