Per the Washington Business Journal, George Mason University’s former Patriot Center, home of high school graduations and college basketball home games, has won the hearts over of a corporate sponsor and will now be known as Eaglebank Arena.
Declared within the agreement with the two parties, Eaglebank’s name will be enshrined on Mason’s venue for the next 10 years, injecting nearly $7 million into the university. If the partnership carries on after the initial 10-year period, Eaglebank will supply GMU with another 10-year/$13.7 million deal.
Head of Bethesda, MD-based Eaglebank, Ron Paul emerged as a favorite in acquiring naming rights to Mason’s venue. It’s also a win-win for Paul, because he eyed Northern Virginia as a prime target for expanding his business horizons outside of Maryland.
George Mason University President Angel Cabrera on the acquisition:
“This is a landmark moment for George Mason University and EagleBank. Our shared vision goes beyond the financial contribution that will benefit so many people. This is about a relationship between two great institutions that have a stake in the community and are investing in the future for our region.”
*Featured Photo (above) credit to USA TODAY Sports