Union Bank & Trust has acquired the ten-year naming rights to James Madison University’s (JMU) proposed new basketball arena.
The financial service provider will pay the Virginia public research university US$2.25 million over the duration of the contract.
Jeff Bourne, athletic director at JMU, confirmed that it is the “largest corporate naming rights deal in the school's history” and it completes the US$12 million in fundraising needed to build the US$88 million facility.
Construction of the new arena will begin in early 2018. The 8,500-seat Union Bank & Trust Center is scheduled to be ready for the start of the 2020/21 college basketball season.