That threshold, however, increases incrementally over the contract, topping out at $15 million by the end of the first 12 years.
WVU's share of revenues would also increase to 40 percent if it renews the deal for an additional 10 years.
WVU could face penalties as well.
If the university is sanctioned by the NCAA, undergoes another conference change or suffers some form of "material adverse publicity" that affects IMG's ability to attract sponsorships or advertising, IMG could negotiate lower annual royalty payments, the contract said.
The WVU contract with IMG lays out specific details for broadcasting WVU games via the radio.
These broadcasts, formerly produced by Raese's West Virginia Radio Corp., will now be handled by IMG Audio.
The Mountaineer Sports Network will now be referred to as the "Mountaineer Sports Network from IMG" or "MSN Radio from IMG," according to the contract.
IMG will be required to produce a 60-minute pre-game and 30-minute post-game show, though the contract said WVU would like the company to try to expand that to a two-hour pre-game and one-hour post-game show, if possible.
Men's basketball games will still have 30-minute pre and post-game shows.
A big question has been if IMG will continue to use current WVU play-by-play broadcaster Tony Caridi as part of their radio broadcasts. WVU indicated in bid documents that it would like to keep its prior broadcast teams intact.
An IMG source, who declined to be named, said the company has reached out to Caridi but had not received any feedback from him.
"We have made Tony an aggressive offer and have expressed our willingness to have further discussions that would result in him remaining the Voice of the Mountaineers," the source said. "We are waiting on his response."
In addition to being the play-by-play radio personality, Caridi is a manager at Pikewood Creative, an advertising arm under the West Virginia Radio Corp. corporate umbrella.
West Virginia Media
The WVU contract with IMG also lays out a specific relationship with Bray Cary's West Virginia Media Holdings corporation, which IMG will use to air at least one football game and four basketball games each year.
In addition to coaches shows and the annual spring football game, which the company already produces, the contract says West Virginia Media will produce pre-game shows and bowl specials throughout the year.
Also, West Virginia Media will produce new broadcast specials tied to National Signing Day, WVU's annual Sports Awards Banquet and an annual University Gala Fundraising Event, which the contract says will begin in the 2014-2015 sports year.
The contract also says West Virginia Media will begin providing other services at no cost to WVU.
Those include: increasing coverage of special events (such as the Coaches Caravan or WVU Classic Golf Tournament) on West Virginia Media-station newscasts; providing WVU with promotional time on the network's 5:30 statewide newscast; appearances by WVU coaches and university officials on Cary's weekly Decision Makers Sunday talk program; and providing on-air promotional and sales opportunities for WVU merchandise.
Contact writer Jared Hunt at busin...@dailymail.com or 304-348-4836.