The home of University of New Mexico basketball is getting a rebrand.
Since its opening as University Arena in 1966, The Pit has hosted the Lobo men’s and women’s teams. Through a partnership with Nusenda Credit Union, the arena will now bear the name The Pit - Powered by Nusenda.
The 10-year deal, which was announced on Thursday, Feb. 26, will net UNM Athletics an average of $1.74 million per year and marks an advancement in the relationship between the partners.
“For more than four decades, Nusenda has been a trusted partner of our University. This expanded commitment reflects not only the strength of that relationship, but a shared belief in the importance of investing in student athletes and sustaining one of New Mexico’s most visible community institutions,” University President Garnett Stokes said in a press release on Feb. 26.
Nusenda has invested nearly $7 million into University initiatives since 1985, according to the press release.
“In this era of collegiate athletics, sustained excellence requires collective investment. This agreement provides meaningful operating support for our programs while honoring the tradition and legacy of The Pit,” Interim Director of Athletics Ryan Berryman said in the press release.
This is not the first name change the stadium has gone through. In 2014, WisePies Pizza and Salad agreed to a $5 million, 10-year deal with the arena gaining the moniker
In 2017, the naming rights were sold to Dreamstyle Remodeling, and both The Pit and University Stadium were named after the company. The deal was discontinued in 2020.
The agreement will include financial literacy education for the University’s student athletes, and new signage is expected to be installed before the tip-off of the 2026-27 basketball season.
Jaden McKelvey-Francis is the editor-in-chief of the Daily Lobo. He can be reached at editorinchief@dailylobo.com or on X @jadenmckelvey
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