For hosting the three-day Hawaiian Airlines Diamond Head Classic, the University of Hawaii expects a $25,000 check for its trouble and none of the ticket proceeds.

And, the Rainbow Warriors are the envy of so-called mid-major basketball schools across the country.

"There’s probably not a school outside the five (Bowl Championship Series) conferences that wouldn’t jump at the deal Hawaii has," said Dennis Farrell, Big West Conference commissioner. "And, they get to do it every year. That’s the remarkable thing."

The deal behind the eight-team, nationally televised event that opens Sunday at the Stan Sheriff Center makes for an interesting look at the business of college basketball.

The fifth annual tournament provides the ‘Bows with two things they struggle with on their own, network TV exposure and quality competition on their home court, while shielding them from the kind of heavy, budget-sinking financial losses that doomed the event’s legendary predecessor, the Rainbow Classic.

In addition, the state’s main industry, tourism, gets three days of heavy promotion over the holidays.

Though UH operates the Diamond Head Classic, the event is owned and overseen by ESPN Regional Television (ERT), a Charlotte, N.C.-based subsidiary of ESPN. ERT lines up the teams, pays the bills and provides the TV coverage. UH keeps parking, concessions and merchandise sales, plus the $25,000 for expenses while ESPN gets ticket revenue, including a pro-rated share of UH season ticket sales, TV advertising and sponsorships it generates.

"It is a win-win deal for all concerned," said Carl Clapp, UH associate athletic director.

Between the Classic and the Sheraton Hawaii Bowl, which ERT also owns and oversees, more than 20 million viewers tune in to the Hawaii-based events over the holidays annually, the network said.

Under terms of the agreement, UH said it is guaranteed at least two TV appearances (it will get three this year totaling seven to eight hours) per tournament and some high level competition.

The ‘Bows will play Boise State (8-2) Sunday and, depending upon their fortunes, will meet South Carolina or St. Mary’s the second night. George Mason, Iowa State, Oregon State and Akron are also in the field.

"The ESPN visibility is key for our basketball program," athletic director Ben Jay said. "That’s what you really need, the exposure."

Head coach Gib Arnold said the ‘Bows sent out Christmas cards Monday, but they were hardly Hallmark originals. They were reminders to prospective recruits to check out UH in the classic Dec. 22, 23 and 25.

"They (recruits) love it, especially that Christmas game," Arnold said. "They sit down and open their presents and watch it. I get a lot of calls and emails and texts from that time from all those guys and other coaches as well. It’s just a time to display the program."

Arnold said, "I love the fact that we’re recruiting a kid out of New York or Chicago and it’s minus seven (degrees) and they’re showing pictures of the beach and we’re playing basketball. That’s not a bad thing in recruiting as far as I’m concerned."

For much of its 40-plus year run as an eight-team tournament, the UH-owned and operated Rainbow Classic was the premier holiday tournament in the country and was able to book a Who’s Who lineup of schools and top talent, including Elvin Hayes, Pete Maravich and Michael Jordan.

But the NCAA’s liberal awarding of exempted status and evolving of cable TV meant a proliferation of tournaments from Alaska to Puerto Rico that drained the Rainbow Classic of its luster and dollars.

Without a TV partner, UH had trouble attracting top names and, after a string of mounting deficits, then-athletic director Jim Donovan questioned the sense in paying expenses for seven teams when UH would only play three of them. Better, he decided, to tie-up with ESPN in 2009 and reap the benefits without the financial liability.

"Hawaii gets teams to come to their arena that most mid-majors can’t get, plus they get all that visibility," Farrell said. "These days, if you’re not in one of the five big conferences, that’s a pretty good deal."