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The credit union will pay Maryland Athletics $11 million for the 10-year partnership, including a $2.5 million gift supporting programs and facilities that will go toward the construction of a basketball performance center. An additional $300,000 to $400,000 will be compensated annually.
"We are proud to welcome SECU into our Maryland Athletics family," said Damon Evans, Barry P. Gossett Director of Athletics. "From the very beginning, we aligned with SECU on goals and objectives, and more importantly, our values. It is our intent to use this partnership to do good for our student-athletes, our university and our communities."
Capital One and Maryland Athletics ended their current agreement that was set to end in 2032, mutually. The name change will be official beginning October 1, 2022. To read the full report by WBAL, click here.
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