Wake Forest University and University of Houston strike naming rights deals

Wake Forest University has agreed a new stadium naming rights deal with Allegacy Federal Credit Union, while the University of Houston (UH) has sealed an extension to its partnership with Texas Dow Employees Credit Union (TDECU).

Wake Forest’s multi-year deal is the largest corporate partnership in the University’s history, deepening Allegacy’s existing partnership by establishing the home of Wake Forest football as Allegacy Federal Credit Union Stadium.

The 31,500-capacity venue first opened in 1968 and its naming rights had been held since 2007 with BB&T, and later Truist since 2020 following a merger deal between BB&T and SunTrust. Allegacy, which has deep roots in the local Winston-Salem community, will also become an official banking partner of Wake Forest Athletics, the exclusive credit union of Wake Forest Athletics, the official wealth management advisors of Wake Forest Athletics and the exclusive banking partner of Wake Forest Football.

Additionally, Allegacy will become Wake Forest’s preferred student-athlete financial education provider, providing the availability of Allegacy financial experts to assist student-athletes with general financial matters and education. 

Allegacy Stadium anchors the largest sports and entertainment quadrant west of Greensboro and north of Charlotte. As such, it broadens the credit union’s visibility among the cumulative 250,000 fans and 45,000 students who attend Demon Deacons football games.

“Allegacy and Wake Forest continue to be aligned in mission, ideals and principles,” said Allegacy’s president and CEO Cathy Pace, who serves as a member of Wake Forest’s School of Business Board of Visitors.

“Our approach to wellbeing is holistic in offering financial products and services that help our members be their best selves. Wake Forest’s motto, Pro Humanitate, similarly is a calling to better the lives of others. With this ongoing partnership, we are each building on a proud legacy and a commitment to innovation in education and wellness.”

Wake Forest’s director of athletics, John Currie, added: “Allegacy’s unparalleled commitment to serving their members and improving our community aligns perfectly with our Wake Forest Athletics goal of providing the best fan experience in North Carolina.

“This is a unique opportunity to deepen a partnership which has impacted hundreds of thousands of people across our Winston-Salem community and beyond over the past two decades. And, the extension of Allegacy’s relationship with our School of Business, led by Dean Annette Ranft, along with the Office of Professional & Career Development, provides a broader impact on both Wake Forest students and the entire community.”

The Independent Sports and Entertainment (ISE) agency assisted in the development of the naming rights and new partnership agreement between Allegacy and Wake Forest.

TDECU Stadium

TDECU initially reached an agreement in principle for a 10-year extension to its naming rights deal for UH’s football stadium back in September.

Houston’s largest credit union was set to maintain naming rights to the 40,000-seat TDECU Stadium and expand its support of the University through at least 2034 with a new financial investment exceeding $20m (£15.7m/€18.4m).

This contract has now been finalised, with the University stating it represents the most significant agreement of its kind in the history of UH Athletics. With the Cougars set to officially join the Big 12 Conference on July 1, the renewal also intends to provide a strong foundation to not only shape a championship future in the new league, but better position UH in its pursuit of becoming a top 50 public university.

When UH first partnered with TDECU in 2014 and opened the $128m TDECU Stadium, it was the largest-ever naming rights deal for a college football stadium at that time.

“We recognise that an investment in the University of Houston is not only an investment for this region, but for the nation itself,” Isaac Johnson, TDECU president and CEO, said yesterday (Thursday).

“This commitment will allow us to walk with UH students from the beginning of their education to graduation and beyond. TDECU is everywhere UH alumni need us to be, helping navigate their financial journeys.”