The SIU arena will have a new name Thursday afternoon.
The Board of Trustees voted in favor of a local sponsor to buy the naming rights for $10 million dollars.
Thursday at the SIU Board of Trustees meeting on the Carbondale Campus a historic decision was made.
The naming rights to the SIU arena was purchased by a local sponsor for $10 million dollars.
SIU Carbondale Chancellor John Dunn says this is an opportunity that will benefit the entire campus.
“It’s earmarked for athletics although there is a provisal in there for scholarships that would be for general students as well.”
It’s the largest amount the university has received for naming rights to a campus building.
Board chairman Phil Gilbert says with the decline in state funding over the past few years partnerships like this will make a big impact.
“We need help from the private sector in order to provide quality education that we intend to give our students.”
Senior Public relations major Hannah Colbrook is excited about the name change.
“I think it’s actually really exciting I think it’s progress for SIU and the sense they’re creating news and attention towards what we have here not only as staff and students, but also our athletic program as a whole."
