EagleBank, the Bethesda-based community bank that has been expanding into Northern Virginia, will put its name on George Mason University’s Patriot Center as part of a $6.6 million, 10-year sponsorship deal.
“I’m very excited about partnering with Mason in that the passion of EagleBank is to give back to the community,” said Ronald D. Paul, chairman and chief executive of EagleBank. “Part of that is creating leaders and entrepreneurs who will become the future of that community.”
The venue will be known as the EagleBank Arena effective July 1, and includes the option for EagleBank to unilaterally extend the agreement for an additional 10 years for a similar amount of money.
The deal extends beyond the 10,000-seat arena and into the classroom, where the bank’s executives will team with the university for a lecture series that will include GMU faculty, students and alumni. It will also extend into the bank, which will create an internship/apprentice program for GMU’s would-be financiers. The bank also will fund scholarships.
“It’s a true partnership,” said George Mason president Angel Cabrera. “We share a mission, we share values and they are providing resources of great value to our students and to our community.”
GMU’s Patriot Center in Fairfax County, Va., opened Oct. 4, 1985 and is managed by Monumental Sports & Entertainment, the Ted Leonsis-controlled private company that includes the Verizon Center, the NBA Wizards, WNBA Mystics and NHL Capitals.
The Patriot Center has hosted more than 12 million patrons at more than 3,500 events, from Disney on Ice to Bruce Springsteen to college sports and events.