The University of Arizona will add a sponsor’s name to the title of the McKale Center — a first in the 53-year history of the home of Wildcats basketball, volleyball and gymnastics.
As reported by Bruce Pascoe of tuscon.com, the school announced Friday a 15-year, $27.7 million agreement with insurance services firm ALKEME that will result in the school calling its iconic athletic venue "McKale Center at ALKEME Arena."
Arizona said the agreement would result in new branding inside and outside the historic building, as well as "premium hospitality spaces and integrated digital platforms." Changes will roll out in phases, Pascoe reported.
It's the university's second major naming rights agreement in fourth months. In November, Arizona announced a 20-year, $60 million deal with the Pascua Yaqui Tribe to change the name of Arizona Stadium, home of Wildcats football, to Casino Del Sol Stadium.
Per Pascoe, Arizona reported athletic department expenses totalling $139 million in its most recent U.S. Department of Education filing, for the 2023-24 year — before the school began paying its players $20.5 million as a result of last June's House v. NCAA settlement — and Arizona athletic director Desireé Reed-Francois said competing at the highest levels collegiately requires "sustained investment and strong partnerships."
The agreement, which will pay Arizona an average of $1.84 million per year, "provides critical resources that allow Arizona Athletics to continue our momentum and position our programs for long-term competitive success," Reed-Francois said. "ALKEME leadership's commitment to education and giving back as Arizona graduates reflects a shared belief in excellence — on the field, in the classroom, and beyond."
Arizona said its partnership with ALKEME, a Southern California-based firm run by a UA graduate, also will include collaboration between the insurance firm and the Eller College of Management to develop entrepreneurship and leadership programming for students.
