BOCA RATON, Fla. -- In a Board of Trustees meeting today, Florida Atlantic University announced a finalized deal with the GEO Group that includes naming rights for its football stadium.
The GEO group operates a range of correctional and detention facilities and is headquartered in Boca Raton.
For two years while the university attempted to secure the naming rights, the stadium was simply known as FAU Stadium.
It will now be known as GEO Group Stadium.
The FAU Foundation, Inc. received a $6 million gift for the name change. The $6 million gift will be made through GEO's charitable foundation, The GEO Group Foundation, and will be paid over 12 years.
According to FAU, it is the largest one-time gift in the history of FAU athletics.
"We are incredibly grateful for this wonderful gift," said FAU President Mary Jane Saunders in a release. "It is so exciting to now have a name for our beautiful stadium, and I couldn't think of a better way to do that than by way of philanthropy."