The home of the UIC Flames basketball teams will be renamed Credit Union 1 Arena as part of an arena naming rights agreement, the university announced Thursday. The terms of the agreement remain subject to the review and approval of the university’s board of trustees.
The UIC men’s basketball team hosts William & Mary on Thursday night in what will be the first game to acknowledge the new partnership. The school says it’ll further celebrate the new naming agreement for its arena with a marquee matchup against Loyola on Dec. 1.
The facility, which is currently known as UIC Pavilion, operates at525 S Racine Avenue near the school’s campus. It originally opened in 1982 under a design from architecture firm Skidmore, Owings and Merrill, was renovated in 2001 and currently has a capacity of 6,115 for basketball games. It can hold even more people for other events such as concerts and combat sports.
The agreement with Credit Union 1,an Illinois state-chartered credit union, will pay the university $9.3 million over 15 years. The credit union will also provide $750,000 to support scholarships for students attending UIC.
“We are grateful for the generosity of Credit Union 1 and look forward to providing more scholarship opportunities to our students through this partnership,” said UIC chancellor Michael Amiridis. “Credit Union 1 has served the UIC community for many years and we are proud to have the Credit Union 1 Arena on our university campus as a visible symbol of our shared commitment.”