The University of Arizona announced a 15-year $27.7 million agreement with ALKEME Insurance on Friday, Feb. 13, renaming the iconic venue to McKale Center at ALKEME Arena.
The new partnership arrives in less than 3 months after R. Ken Coit Director of Athletics Desireé Reed-Francois landed a 20-year naming rights deal with Casino Del Sol for Arizona Stadium.
“This commitment by ALKEME will benefit athletics, academics and student success and will strengthen the University of Arizona as a whole. Their commitment reflects a shared belief that sports can be a powerful platform for education, for leadership and opportunity,” Reed-Francois said.
The investment made by ALKEME will work with the Eller College of Management to build leadership and entrepreneurial strategies that provide students with first-hand experience in the insurance field and business operations.
“Our goal is to bring youth in […], and why not better to build that at Eller […]. Our goal is to try and create a pipeline of opportunity and explain to them [students] insurance isn’t what you think it is sometimes. We’re not an insurance carrier, we’re an insurance brokerage,” Chief Executive Officer of ALKEME Curtis Barton said.
Experiences and mentorship programs along the lines of “Shark Tank” are among the many creative outlets this partnership generates for the university.
In the 15-year agreement, both parties have a 5-year outlook, digging deep into the terms to see if expectations are met on either side and how the University and ALKEME adapt to the changing landscape in college athletics.
“We’re looking at the business terms, we’re looking at the deliverables […] As you know, the world is changing so incredibly rapidly and we just wanna make sure that we’re meeting both sides’ expectations,” Reed-Francois added.
ALKEME Insurance, established in 2020, is going back to their roots. Chief Corporate Strategy Officer Josh Benveniste, along with Barton, are proud Arizona alumni.
“We are proud to partner with Arizona alumni who are committed to giving back and helping prepare the next generation of students to lead, innovate, and contribute to their communities,” University of Arizona President Suresh Garimella said.
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