Chevy Chase Bank Signs Naming Rights Agreement For Byrd Stadium Field
8/24/2006 8:00:00 AM | Terrapin Athletics
Aug. 24, 2006
COLLEGE PARK, Md. - Chevy Chase Bank and the University of Maryland have expanded their long term relationship in an agreement that will mean the Terrapins' football and lacrosse teams will play on Chevy Chase Bank Field at Byrd Stadium, it was announced today.
The agreement will provide the university with $20 million that will contribute a significant portion of the cost of expanding Byrd Stadium to include suite and mezzanine seating, as well as renovation of Tyser Tower, improved ADA seating and handrails in the lower bowl.
"We are very excited about Chevy Chase Bank's expanded commitment to Maryland students," said University of Maryland President C. D. Mote, Jr. "As the state's flagship university, our challenge is to create opportunities to make a Maryland education accessible and affordable for our students. Corporate partners like Chevy Chase Bank, with its tradition of supporting higher education, will help us prepare the students who will continue leading our community well into the future."
"As the only large bank headquartered in our community, Chevy Chase Bank has a long history with the University of Maryland, having supported a broad range of academic and athletic programs", said B. Francis Saul II, Chairman and CEO of Chevy Chase Bank. "Its graduates are critical to the betterment and growth of our region. As a fellow member of the 'home team', we are delighted to be able to deepen our support of the University, and it is a privilege to be associated with what has become one of the most prestigious learning and research institutions in the country."
Construction on the expansion is targeted to be complete in time for the 2009 and 2010 football season.
Said Maryland director of athletics Deborah A. Yow, "Chevy Chase Bank's commitment to higher education throughout the region is exemplary and we couldn't be more pleased to have them as a long-term partner in enhancing the experience of our fans and student-athletes who will use Chevy Chase Bank Field at Byrd Stadium."
Under the agreement, the name Chevy Chase Bank Field will appear inside the stadium and on the field. The agreement also provides an extension of Chevy Chase Bank's status as a Team Terrapin Partner for the full 26-year term.
"One of our goals for a number of years has been to upgrade Byrd Stadium," said head football coach Ralph Friedgen. "Through the generosity of Chevy Chase Bank, we'll be able to realize that goal and continue to improve our Terrapin football program. Our players will take great pride in playing on Chevy Chase Bank Field at Byrd Stadium, and we'll work very hard to make it one of the toughest places to play for our opponents in all of college football."
Chevy Chase Bank is the largest financial institution founded, owned and headquartered in the Washington, D.C./Baltimore metropolitan area. The Bank, which is headquartered in Bethesda, Maryland, operates more than 260 branches and a network of more than 1,000 ATMs throughout the greater Washington region. Chevy Chase Bank offers a full array of banking products and services designed to meet the needs of consumers and businesses. Investment and wealth management services are provided through the Bank's subsidiaries, Chevy Chase Financial Services and Chevy Chase Trust Company. For more information about Chevy Chase Bank, visit www.chevychasebank.com.
The University of Maryland is the flagship campus of the University System of Maryland and one of the nation's preeminent public research universities. Ranked No. 18 by U.S. News & World Report, it also has 31 academic programs in the Top 10 and 91 in the Top 25. The faculty includes two Nobel Laureates, six Pulitzer Prize winners and scores of Fulbright scholars. The University is committed to excellence as the state's premier center of research and graduate education and the institution of choice for undergraduate students of exceptional ability and promise. For more information about the University of Maryland, visit www.umd.edu.
Byrd Stadium is the home of the Terrapin football and lacrosse teams. In 2005, Maryland set a school record for per-game attendance when an average of 52,426 fans attended the five home games.
Maryland Athletics is recognized as a highly-achieving program, having won 13 national championships in the last 12 years. The football team's most recent graduation rate was 79%, garnering recognition from the American Football Coaches Association. For more information about Maryland Athletics, visit www.umterps.com.
