Arizona State University and Desert Financial have struck a naming-rights deal for the university’s basketball venue, now known as Desert Financial Arena.
As part of its five-year agreement with ASU, Desert Financial–a local credit union founded in 1939–will pay $1.5 million per year. The new name, which marks the first change to the arena’s branding in some time, was announced this week.
New Desert Financial Arena signage is expected to be installed by the time ASU’s women’s basketball program hosts Air Force at the venue on November 5. More from the Arizona Republic:
The 14,000-seat arena, built in 1974, had been called Wells Fargo Arena since 1997. Before that, it was known as the University Activity Center.
ASU will receive $1.5 million annually from Desert Financial under terms of a five-year agreement that also includes education and degree programs for employees and credit union members.
The deal also includes a marketing services partnership and internship opportunities for ASU students.
“Desert Financial is committed to communities throughout Arizona, as we are, and especially focused on education,” ASU President Michael Crow said. “These shared values form the foundation of a very strong relationship and represent a partnership based on much more than naming an arena.”
In addition to hosting its basketball programs, Desert Financial Arena is also home to ASU’s volleyball, wrestling, and gymnastics squads.
