TSPN Sports has obtained copies of the contracts each school signed with Indiana Black Expo, Inc. through an open records request fulfilled by both schools.
According to the contract signed by Alcorn State, the school will receive “a post-event guarantee payment” of $230,000. The terms of the payment include a 20% deposit in the amount of $46,000 to be paid to ASU within 30 days from the date the contract was executed – which was on March 12, and the remaining 80% of $184,000 to be paid “within 90 days after the event.”
In Grambling’s contract with Indiana Black Expo, the school is to receive payouts totaling $320,000. The payment terms include “a post-event guarantee payment” of $220,000 to be paid “within 90 days after the event” and “a post-event payment” of $100,000 “for scholarships of the University’s choice”.
Both contracts require that the marching bands from each school perform in the Circle City Classic parade and pep rally. A $5000 prize will be given to the marching band that “wins the Battle of the Band competition during the half-time game performance.”
In exchange for the guarantee payments, both schools are also required to sell a minimum of 1000 tickets.