West Long Branch-based Monmouth University and OceanFirst Bank announced their partnership to name the university’s multipurpose activity center and basketball arena the OceanFirst Bank Center.
The $4 million agreement, which continues through 2036, includes official naming rights and other partnership benefits. The OceanFirst Bank brand will be displayed in prominent locations both inside and outside the facility. OceanFirst Bank’s mission and its commitment to the region and higher education are a natural fit with Monmouth University.
“OceanFirst Bank enjoys a great partnership with Monmouth University,” said OceanFirst Bank President and CEO Christopher D. Maher. “OceanFirst is committed to supporting higher education in our community and has directly benefited from a substantial number of Monmouth University alumni that serve as employees and officers at every level throughout the bank. We’re honored to have the OceanFirst brand aligned with such an extraordinary institution. This new relationship augments the funding by OceanFirst Foundation, which since its inception has awarded grants of over $616,000 to Monmouth University, including scholarships to 140 students over the past seven years, a program which we expect will continue in the years ahead.”
Monmouth University President Paul R. Brown spoke about the strong synergy the partnership with OceanFirst provides.
“OceanFirst fits all of the criteria we were looking for in a naming rights partner. They are an industry leader in the region; they are committed to growth; and they bring a broad community connection that reinforces our relationships with students, alumni and friends in the region. OceanFirst’s demonstrated track record of support for higher education was also a critical component of our agreement.”
Jason Kroll, vice president of external affairs at Monmouth University, acknowledged the success of the men’s basketball program and the upward trajectory of the university created an appealing opportunity for corporate partners. “Monmouth University’s national profile is unmistakably on the rise and the stellar season our men’s basketball team enjoyed under Head Coach King Rice was a significant contributor to this ascent. The corporate community took notice, and we are thrilled to find a partner who shares our regional roots, our commitment to excellence, and our desire for even greater visibility.”
Located at the center of Monmouth’s campus, the 153,200-square-foot OceanFirst Bank Center opened its doors in 2009. It is home to the university’s Division I athletic programs and houses a 4,100-seat competition arena; a 200-meter, six-lane indoor track; locker rooms; educational and conference space; the Leon Hess Champions’ Hall, fitness center, and the University Store. Its varied use attracts more than 120,000 unique visitors annually for men’s and women’s basketball games, concerts and shows, high school commencements and high school athletic tournaments, and sports camps and clinics.Related Articles: