CARRABASSETT VALLEY — Carrabassett Valley Academy will hold its annual CVA Scholarship Fundraiser from 6 to 9 p.m. Saturday, Feb. 25, at the Sugarloaf Inn.

The event is a critical piece of the academy’s fundraising efforts to raise scholarship money for current and prospective student athletes.

Each year, Carrabassett Valley Academy awards more than $800,000 in scholarship funds to student athletes who demonstrate exceptional potential in their athletic discipline and academic performance.

This year’s raffle will include a $1,000 early bird cash prize, which will be drawn live on WSKI at 8 a.m. Thursday, Feb. 23. The winning ticket will then be put back into the mix and will also be eligible for the $10,000 cash grand prize, which is drawn live at the event on Feb. 25.

To be eligible for the early bird drawing, tickets must be purchased by 8 p.m. on Wednesday, Feb. 22. Only 500 raffle tickets will be sold. Each ticket includes admission for two to the event, plus food, drink tickets and an auction bid number.

In addition to the cash prizes, there are 28 raffle prizes valued at $100 or more, including many gift certificates to local establishments.

There are plenty of exciting and unique items to be bid on, including New England Patriots tickets, guided fishing adventures, mountain biking and sailing, fantastic art and furniture from well-known Maine artisans, ski memorabilia and even two custom-made ski packages.

Tickets are on sale until noon Saturday, Feb. 25, or until they are sold out. To purchase a raffle ticket for the Scholarship Event, visit the CVA website, www.gocva.com/raffle.

Tickets can also be purchased at various local businesses including The Bag and Kettle Restaurant, Ayotte’s Country Store, The Anti-Gravity Complex at Sugarloaf, Mountainside Real Estate, Sugarloaf’s Competition Center or the Carrabassett Valley Academy Office at the Capricorn. Ticket holders need not be present at the event to win.

FMI: 207-237-4505, [email protected].