University of South Carolina trustees approved renaming the school’s baseball stadium for a Lancaster credit union Friday in a deal that could yield the Gamecocks $7 million.
The 10-year naming rights contract Founders Federal Credit Union will turn Carolina Stadium into Founders Park.
The credit union is paying $4.5 million for stadium naming rights and $2.5 million in sponsorships and advertising.
USC also has a corporate sponsor for its basketball arena.
The school agreed this summer to extend the arena naming-rights contract with Colonial Life over 10 years for $6.5 million.
The USC deal appears to be unique in college baseball.
Just two other colleges, Texas and Texas A&M, have baseball fields with corporate names, said Kendall Rogers, editor of D1Baseball.com.
Both of those deals were tied to stadium renovations.
At Texas, University Federal Credit Union agreed to pay $13.1 million over 15 years in 2005. Blue Bell Creameries paid $7 million at Texas A&M in 2010 in a deal that runs for 25 years.
In Omaha, Neb., at the home of the College World Series, TD Ameritrade signed a $15 million, 20-year naming-rights deal in 2011.
Founders will get its name onto one of the biggest draws in college baseball.
USC had the NCAA’s fifth-highest average attendance this spring with more than 7,300 fans a game.
Carolina Stadium, which cost $35 million, opened in 2009 — a year before the Gamecocks won back-to-back national titles.
Founders Federal has 26 offices in nine South Carolina counties and Charlotte.
The 65-year-old credit union, a sponsor of Gamecock athletics for several years, opened its first branch in Columbia this summer. The office is in USC’s student union, the Russell House.