Webster Bank, which recently announced a multi-year marketing relationship with the University of Connecticut, has made a significant financial investment to support construction of the new Basketball Development Center on the Storrs campus. Financial terms of the agreement were not disclosed.
“We believe this investment in the Basketball Development Center is an important part of our overall commitment to the University and shows our confidence in UConn’s exciting future” said Jerry Plush, president and chief operating officer of Webster Bank. “We believe Webster’s history, values, and commitment to the community represent a natural fit with UConn and what the University stands for, and we are delighted to be partners.”
The agreement between Webster and UConn was described as a “unique partnership” that for the first time will bring together all aspects of the University’s marketing activities, including its high-profile athletic program and efforts to reach out to the more than 200,000 alumni and 28,000 UConn students.
As a part of the agreement, Webster Bank also committed to provide support for the Basketball Development Center.
“We are most grateful to Webster Bank for its very generous commitment to one of the University’s most important and visible priorities,” said John Martin, President of the UConn Foundation. “UConn basketball is a hallmark of the state and Webster Bank is one of the most respected companies in Connecticut. We welcome their support and look forward to a long and successful partnership in the years ahead.”
To date, more than $21.5 million has been raised for the Basketball Development Center to be constructed adjacent to Harry A. Gampel Pavilion on the former site of Memorial Stadium. It is the first building project at UConn that will be funded entirely through private donations, and it has already reached 60 percent of the targeted goal. The 70,000-square-foot facility, which will feature dedicated practice gyms for men’s and women’s basketball, along with locker rooms, coaches’ offices, and areas for academic support, video analysis, sports medicine, and strength training, is expected to break ground in the spring of 2013.