It's the largest cash gift ever to the department and the sixth largest cash gift overall to the university, according to a press release. The funds will be used to support The Pit debt service incurred from the 2009-2010 renovations.
"From the time we first discussed the potential renovation of The Pit, we talked about the need for state and private support to make the renovation a reality," said Paul Krebs, Vice President for Athletics for the University of New Mexico, in a statement. "Specifically, we've talked about the need to find a naming rights partner for the building.
The fact that WisePies is a local company and Steve Chavez, the company's co-CEO, is a native New Mexican and successful, local businessman makes this gift even more significant and special."
The naming deal is half of what UNM initially sought. In 2013, the asking price was $10 million over 20 years. More