Although excitation transfer theory has been supported in numerous contexts, questions remain regarding transfer of arousal between events that are semantically and temporally related. This article summarizes two studies exploring excitation transfer between such events: sequential plays from a college football game. Study 1 failed to support the theory, instead suggesting contrast effects between stimuli. A follow-up study, which altered the method and incorporated psychophysiological measures, demonstrated that arousal may transfer between semantically related, temporally adjacent events. We suggest implications for the theory vis-à-vis misattribution of arousal, as well as opportunities to expand the application of excitation transfer.