Members of the University of Tennessee Grounds Crew paint in the open sections on the Battle at Bristol center field logo stencil on the football field at Bristol Motor Speedway. Once the patterns were painted the stencil was removed and the fill in painting began. Nine colors, 45 approx. gallons paint and 5 hours to complete.

By Grant Ramey of the Knoxville News Sentinel

BRISTOL, Tenn. — The University of Tennessee is set to earn no less than $4 million for the Pilot Flying J Battle at Bristol.

According to a license and operating agreement obtained by the News Sentinel on Tuesday, the Vols earned a guaranteed payment of $4 million for selling out its allotment of 40,000 tickets for the game against Virginia Tech on Saturday at Bristol Motor Speedway.

Document: Battle at Bristol license and operating agreement

If the event is "grandstand sellout" both teams will earn an additional $300,000. The number of tickets sold to trigger that bonus is still being discussed, according to BMS executive vice president and general manager Jerry Caldwell.

"We've had some conversations with the schools on that," Caldwell told the News Sentinel by phone on Tuesday. "We have some internal working numbers. I don't know those off the top of my head."

Caldwell described 153,000 tickets sold — Bristol's capacity is 160,000 — as a "fair estimate."

"I think it will be a little bit more than that," he said.

The bonus for each school for 125,000 tickets sold was $100,000, while 132,500 sold would've meant $200,000.

Both teams received 40,000 tickets, which Tennessee quickly sold out. Bristol retained 61,100 tickets.

Caldwell, speaking to reporters at Neyland Stadium before Thursday's 20-13 Tennessee overtime win over Appalachian State said UT was given more tickets after the original allocation, but didn't give a specific number.

"They got a few more," he said while confirming that both schools sold out their 40,000 allotment.

The agreement was signed on April 9, 2015 by Caldwell, UT athletic director Dave Hart, UT CFO and Treasurer Charles Peccolo and Virginia Tech athletic director Whit Babcock.

The teams will be allowed to use the field for a 60-minute walk-through on Friday at a mutually agreed upon time.

Each school was given 1,000 complimentary grandstand tickets, including seats for each team's marching band, 100 reserved parking spaces and 750 parking passes to be sold with proceeds going to Bristol Motor Speedway.

Both teams agreed to use Big Ten Conference officials for the event, with Tennessee, as the designated home team, responsible for the assignment of officials.

Both teams also agreed to an extended halftime, as permitted by the ABC television network, which will include both marching bands performing.

Bristol was responsible for selling luxury suites and hospitality packages.

Caldwell said drawing up the specifics of such a big event went smoothly with all three parties pulling in the same direction.

"It seemed like everyone involved — us, Virginia Tech and Tennessee — were cooperating from that same position," Caldwell said.

"It was something different for everyone … new in a unique venue and unique proposition with the world's largest (college football) attendance."

It wasn't a long, drawn out process either.

"We had several (meetings) in Knoxville and Blacksburg," Caldwell said. "Then both of the teams came here and we really sat down and hammered out the details.

"I think it was pretty amazing that, for the magnitude of the event, it came together pretty quickly."