- Associated Press - Thursday, May 7, 2015

FAIRFAX, Va. (AP) - George Mason University has sold the naming rights to its 30-year-old, on-campus arena, the Patriot Center.

On July 1, the facility will officially be renamed EagleBank Arena.

The Bethesda, Maryland-based bank announced Thursday it is paying $6.6 million over 10 years for the naming rights. The bank holds the right to extend the deal another 10 years for an additional $7.1 million.

The 10,000-seat arena is home to George Mason’s basketball teams and regularly hosts concerts, circuses and other entertainment acts.

EagleBank says it will also launch an internship and apprentice program at the university and sponsor business leadership development programs at the school.

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