Financial services group TDECU has reached an agreement in principle for a 10-year extension to its naming rights deal for the University of Houston’s American football stadium.
Houston’s largest credit union is set to maintain naming rights to TDECU Stadium and expand its support of the University through at least 2034 with a new financial investment exceeding $20m (£17.3m/€19.9m).
The University said the agreement marks the most significant of its kind in the history of Houston Athletics and gives its Houston Rise capital campaign a major boost. Isaac Johnson, TDECU president and CEO, said: “We consider this a win, win for both organisations.
“TDECU is now Houston’s largest credit union and the fourth largest in Texas. We’re growing to help more people navigate their financial journeys, and UH is growing to a larger national stage.”
Houston Rise is a $150m drive dedicated to competitive excellence in the Big 12 for the UH Athletics program, as the University prepares to move to the Conference in 2023.
TDECU has been the naming rights partner of UH’s 40,000-seat stadium since it opened in 2014 and the new agreement also includes the option for a further five-year extension.
“This long-term commitment and investment by TDECU’s leaders demonstrate their vision, confidence and belief in our university and athletics program; and will serve as an invaluable catalyst for our Houston Rise campaign as we move into the Big 12,” said UH’s vice-president for athletics, Chris Pezman.
The uniquely designed partnership expands beyond traditional sports sponsorships with a multi-tiered approach of programs and initiatives that aim to support career development, financial literacy, and community outreach.
Johnson added: “This innovative extension means more UH students, faculty, and the local community will have access to the benefits and services our members already enjoy. TDECU can meet UH students when they begin their journeys on campus and walk with them through their college years and beyond.”