Oakland University sells naming rights to O'Rena for $5 million
The cash infusion is a big deal for a mid-major athletic department, where every dollar matters in this new era of college athletics.
Tony PaulRochester — At the ninth annual Black & Gold Awards — essentially, Oakland University's Oscars for student-athletes — the biggest winner was the athletic department's coffers.
On Monday night, before the awards kickoff, Oakland University announced it had sold the naming rights to its flagship athletic facility, the O'Rena, which soon will be known as the OU Credit Union O'Rena.
The deal is worth $5 million over 10 years, a significant cash influx for a mid-major athletic department.
"We're so incredibly grateful for this extremely generous and timely gift," Oakland president Ora Hirsch Pescovitz said Monday night. "It's going to have an immediate and transformative effect and impact on every student at Oakland, not just limited to our student-athletes.
"It will provide resources for student-athletes, but it will also provide resources for almost every student at Oakland."
The naming rights go into effect July 1.
The O'Rena, opened in 1998, is home to the Oakland men's and women's basketball and volleyball teams. It becomes the second Division I athletic facility in Michigan to sell naming rights to a company, after Eastern Michigan's George Gervin GameAbove Center, the Eagles' basketball and volleyball arena.
GameAbove is made up of a collection of Eastern Michigan alums and boosters, and donated $2.7 million for the name change, which went into effect in December 2021. GameAbove's deal stipulated that legendary EMU basketball player, George "Iceman" Gervin, be part of the name change.
The OU Credit Union O'Rena becomes the first Division I arena in Michigan to be named solely after a company.
Company naming rights are a modestly growing trend in this new era of college athletics — an arms race for dollars, particularly with NIL. Colleges traditionally named athletic facilities after notable alums or mega donors.
OU Credit Union, a wing of Michigan State University Federal Credit Union, has been a sponsor of Oakland athletics for 10 years, before this latest 10-year commitment.
"It's strong," Oakland athletic director Steve Waterfield said Monday night, when asked about the state of the university's athletics department. "After the last 10 minutes, it's even stronger."
tpaul@detroitnews.com
Twitter: @tonypaul1984