The Patriot Center at George Mason University is about to be renamed EagleBank Arena.
Eagle Bancorp in Bethesda, Md., said in a press release Thursday that it will pay $6.6 million as part of a 10-year naming rights deal with the university. The $5.5 billion-asset company can extend the agreement for up to 20 years for a total commitment of $13.7 million.
"As a local bank, we are delighted to partner with one of the region's most prominent universities," Ronald Paul, Eagle's chairman and chief executive, said in the release. "In entering into this array of support, EagleBank underscores not only our commitment to Northern Virginia and the region, but also to the creation of a multi-platform alliance that will support education, job growth and future economic prosperity throughout our community."
Eagle has 22 branches in Virginia, Maryland and Washington.
The Patriot Center a 10,000-seat multi-purpose sports and entertainment venue in Fairfax, Va. will officially be renamed on July 1.