Alabama A&M has signed an agreement with the City of Birmingham that will keep its Magic City Classic rivalry with Alabama State at Legion Field through 2026, the school announced Tuesday.

Last Friday, AL.com reported that following months of negotiations, the institution had not yet signed the four-year agreement, which calls for the city to pay each school $500,000 annually to participate in the game. Nor had it signed a four-year agreement with the Alabama Sports Council (ASC), the nonprofit entity that oversees production of the event.

Both agreements were previously signed by Alabama State and, respectively, the City of Birmingham and ASC.

A&M delayed signing and requested revisions in both agreements that one event official says may have “dire consequences” for this year’s Classic.

In its announcement, school officials said the agreement with the city was signed “[a]fter a healthy dialogue with” city officials. “The University thanks Mayor [Randall] Woodfin and his team for working to reach an amicable solution and looks forward to the 82nd playing of the Magic City Classic in October.”

The ASC agreement remains unsigned, confirmed Gene Hallman, CEO of Eventive (formerly Bruno Event Team), which produces the Classic (including securing sponsors) on behalf of ASC.

In total, the agreements would provide each school with an annual payout of $1.2 million, by far the highest in the history of the event. However, as of this writing, it is not yet clear with A&M would receive the $700,000 called for in the agreement with ASC without a signed agreement.

A&M General Counsel Rochelle A. Conley, in an April 18 letter to Hallman wrote: “At this time, and based upon our current level of understanding, we would feel comfortable moving forward with a two (2) year rather than four (4) year term.”

In an email the following day responding to Conley, also obtained by AL.com, Eventive VP Amateur Sports Perren King wrote: “…the result of our review (or the letter) was to continue forward with the long-standing negotiated contract terms of 4 years, which was signed by Alabama State.”

The following day, Conley, in an email wrote: “I believe a face-to-face meeting may bring clarity to the University’s position and may also assist us in reaching an equitable solution.” Conley scheduled the meeting for Tuesday, April 27 at 1:30 p.m. at the A&M athletic director’s office.”

Within hours, King responded: “In the highest form of transparency, time is what has my team the most concerned as we sit here without the ability to act on behalf of the event. To be very candid, getting started on an event of this magnitude being this far behind could have dire consequences for the 2023 Magic City Classic.

“[W]e have missed the crucial period to cultivate new sponsors and risk jeopardizing existing revenue partnerships from supporting the event. In response to the request for the 27th, the five months of communications and negotiations, have ASC at a place where we have to be contractually authorized by next Tuesday 25th, to move forward with the MCC … under our signed 4-year agreement.”

This is a developing story and will be updated.