George Mason University has sold the naming rights to its Patriot Center arena.
On July 1, the facility will officially be renamed EagleBank Arena.
The Bethesda-based bank announced Thursday that it will pay GMU $6.6 million over the next decade for the naming rights. The bank also has the right to extend the deal another 10 years for an additional $7.1 million.
The 10,000-seat arena, which opened nearly 30 years ago, is home to GMU's basketball teams and regularly hosts concerts, circuses and other entertainment acts.
EagleBank says it will launch an internship and apprentice program at the university and sponsor business leadership development programs at the school.
"This is a landmark moment for George Mason University and EagleBank," said GMU President Ángel Cabrera in a release. "...This is about a relationship between two institutions that have a stake in the community and are investing in the future of our region."
The first GMU basketball event scheduled after the renaming will be Mason Madness on Oct. 16 to celebrate the start of the men's and women's basketball seasons.