By Chris Cox
Published Oct. 16, 2015
Lancaster-based Founders Federal Credit Union has entered into a naming rights agreement for the University of South Carolina’s baseball stadium, a deal which will net the university more than $7 million.
The deal, tentatively approved Friday by USC’s Board of Trustees, will pay more than $700,000 annually to the university. The 10-year agreement, which begins Nov. 1 and runs through Oct. 31, 2025, will pay the school $450,000 per year for naming rights and $250,000 for additional advertising and sponsorship rights. The latter payments will increase by 2% annually.
The ballpark, which had been called Carolina Stadium since its opening in 2009, will now be known as Founders Park. The $35 million facility houses the two-time national champion Gamecocks, one of college baseball’s most consistent powers.
Founders operates 25 offices and a trio of service centers in South Carolina and North Carolina, covering the counties of Cherokee, Chester, Chesterfield, Lancaster, Laurens, Mecklenburg, Richland, Spartanburg, Union and York. It has only one location in Columbia, where it recently opened an office in USC’s Russell House student union.
The Lancaster-based credit union serves more than 200,000 members and has more than $1.7 billion in assets.
Reach Chris Cox at 803-726-7545 or on Twitter @chrisbcox.