ALBUQUERQUE, N.M. (AP) - The Latest on naming rights for New Mexico’s arena (all times local):
12:15 p.m.
A home-remodeling business that operates in four states has bought the naming rights for the University of New Mexico’s famed basketball arena and its football stadium for $10 million.
School officials and representatives of Dreamstyle Remodeling gathered at one of the company’s showrooms in Albuquerque to make the announcement Wednesday.
The 10-year deal marks the largest philanthropic agreement in the athletic department’s history.
A New Mexico native, company owner Larry Chavez says he wanted to support Lobo athletics given the dedication and passion he had witnessed among leaders within the athletics department. Discussions first began last summer.
He says the deal also will include contributions for the university’s business management school, children’s hospital and performing arts center.
Officials say Dreamstyle signage will be installed at the stadium and arena within the next 60 days.
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9:53 a.m.
University of New Mexico officials are getting ready to announce the next holder of the naming rights for the school’s famed basketball arena and other athletic venues on campus.
Officials have scheduled a news conference Wednesday at a home remodeling business in Albuquerque to unveil the new corporate sponsor.
UNM announced last week that it had asked the WisePies Pizza & Salad chain to abandon its naming rights to The Pit pending a new agreement with another company. The name of the new sponsor wasn’t revealed.
School officials said at the time that the new agreement would allow for multiple facilities to be named under one umbrella.
The Pit was renamed WisePies Arena in December 2014 under a deal that called for 10 annual installments totaling $5 million.
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