For decades, Iowa State (of the Big 12 Conference) and Iowa (of the Big Ten Conference) had home-and-home series with in-state rivals Drake and Northern Iowa, with Iowa visiting Drake in even-numbered years and Northern Iowa in odd-numbered years (with the corresponding return trips to Iowa in the opposite years) and Iowa State visiting Northern Iowa in even-numbered years and Drake in odd-numbered years. Drake and Iowa State, in particular, played in 104 of 105 seasons.
The event moved to a one-day doubleheader beginning in 2012 in the state's capital. Since Drake and Northern Iowa are both members of the Missouri Valley Conference, the rotation will never see them play one another (Iowa and Iowa State continue to play a home-and-home series).
The inaugural event received mixed reviews, with many at Drake and Northern Iowa expressing a preference for a home game  and the event coming well short of selling out. However, in 2014 the event did sell out for the first time, largely due to Iowa State & Northern Iowa being ranked in the AP Top 25 with Iowa also receiving votes. With increasing limitations on non-conference games for Iowa & Iowa State, the series is likely to continue for years to come and has been extended through the 2017-18 season. 
There were hopes for the series to be broadcast nationally. However, no national broadcasters have bought in so far. To date, each game involving Iowa has been broadcast on Big Ten Network while the other game has been broadcast locally by cable provider Mediacom on Mediacom 22.