Fishing in Cherokee is interesting to begin with, not even considering the crowds of folks out for this event. I think you are correct you have to buy a permit on top of the entry fee. Also, you are required to keep all the trout you catch (until the limit is reached, then you cant fish anymore) you can get fined for releasing a trout back to the river. I've never fished the Tournament, but have heard that it's a Zoo, to say the least that day... $500 for catching a trout would be a sweet deal nun the less...