For 55 years, the Saluki basketball facility has been known as SIU Arena, or simply The Arena.
That changed Thursday when SIU-Carbondale sold the naming rights to Banterra Bank. The Arena will now be known as Banterra Center.
Banterra President and CEO Jeff May says this is more than a marketing opportunity since SIU-C is a critical economic engine for the region.
"The main reason the Banterra board chose to do this is we saw this decision as an investment and a positive influence on our region's economy and its growth."
Saluki Director of Athletics Jerry Kill says this is a historic moment.
"When we look down the road 10 years from now, I guarantee you, this day will be the difference in Saluki basketball."
Kill says the partnership with Banterra will serve as a strong example of future naming-rights opportunities for Saluki Athletic venues.
The 10-year deal could produce $10 million if profits from a debit-card initiative with Banterra are met. The initiative will help fund a newly established Banterra-SIU Scholarship Fund.
SIU-C Interim Chancellor John Dunn says that's an important part of the deal.
"We especially appreciate, not only the long term financial commitment as part of this partnership, but the agreement to benefit a Banterra-SIU Scholarship program for students as well."
The partnership is the largest corporate naming-rights agreement in school history.