Austin Peay has qualified for the NCAA Division I men's basketball tournament seven times, most recently in 2016, making the field of 68 by virtue of having won the 2016 Ohio Valley Conference men's basketball tournament.

The 2022–23 season was not only Peay's first in the ASUN Conference, but also was its last at Winfield Dunn Center.

The two schools are separated by about 65 miles (105 km) and consistently vied for Ohio Valley Conference championships.

ESPN The Magazine featured the Austin Peay–Murray State rivalry in a February 2009 issue.

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