In the world of basketball purist and city hoops fans, it will always be The Palestra. But, moving forward, center court may take on a different look.

Macquarie Investment Management has entered into a multiyear sponsorship deal with the University of Pennsylvania that includes the naming rights to The Palestra court on Penn’s West Philadelphia campus.Financial terms of the agreement are being kept confidential.

Under the terms of the agreement, the Macquarie logo will be permanently displayed on the court of The Palestra, now known as “Macquarie Court at The Palestra,” beginning with the 2018-19 season. In addition to men’s and women’s basketball, the arena also hosts wrestling, women’s volleyball and women’s gymnastics programs along with select Philadelphia Big Five basketball games, writes John George in the Philadelphia Business Journal.

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Ironically, Macquarie is based down under, in Australia. But U.S. headquarters are located in Philadelphia.

“Our U.S. mutual fund business started in Philadelphia in 1929, and our commitment to this city and the community is part of our ethos,” said Shawn Lytle, deputy global head of Macquarie Investment Management, in a prepared statement. “We are proud to sponsor Penn Athletics and the Palestra, an iconic Philadelphia institution, where talented men and women excel both on and off the court.”

The sponsorship deal also calls on Macquarie to serve as:

• Presenting sponsor of Penn men’s and women’s basketball.
• Premier sponsor of the Young Quakers Community Athletics (YQCA) Program, a collaboration between the Netter Center for Community Partnerships and Penn Athletics, which creates partnerships between Penn’s intercollegiate athletic teams and West Philadelphia public schools.
• Presenting sponsor of National Girls and Women in Sports Day at Penn, a program that celebrates the extraordinary achievements in girls’ and women’s sports and recognizes the ongoing effort toward equality and access for women in sports.
• Presenting sponsor of the new student-athlete Community Champion program.

To read the complete story click here.

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