Florida Atlantic University's football stadium will have a new name this fall as the naming rights to their 30,000 seat on-campus facility were bought by The GEO Group, a private correctional facilities management corporation.
The deal is believed to be valued at around $5 million, though the terms of the contract is not yet known, according to FAUOwlaccess.com. The Owls went 2-3 at home last season and 3-9 overall.
The GEO Group is a leader in privatizing correctional facilities. Its CEO, George Zoley, holds bachelor's and master's degrees from FAU. He has served as a member of FAU's Board of Trustees and was at one point the Board's chairman.