Announced in Governor Asa Hutchinson's office on August 16, 2018, the rivalry series was established to promote the spirit of in-state competition between the Little Rock Trojans and the Central Arkansas Bears while celebrating the athletic programs of both schools. While these two Division I institutions, separated by just 30 miles, have competed against each other for decades, the newly-formalized rivalry will ensure the Bears and Trojans continue their rivalry in all sports that are mutually sponsored by both institutions.

"The Governor's I-40 Showdown will produce a good-natured rivalry with well-earned bragging rights when the triumphant school brings home the trophy," said Arkansas Governor Asa Hutchinson. "The Showdown no doubt will boost interest in all 11 sports designated for the competition and will encourage the athletes by showing their fans are behind them. And this rivalry will give the universities another platform to promote their academic programs to recruit new students."

Arkansas Blue Cross Blue Shield signed on as the official sponsor of the rivalry series in the fall of 2019-20.

Each head-to-head competition will have a pre-determined point value for the winning team. The university that accumulates the most points during the athletic season will have its name permanently engraved on the Governor's Trophy - a traveling trophy that will reside on the reigning champion's campus the following year.