Update: Glass on naming-rights comment
Indiana would consider a naming-rights deal for Assembly Hall, Indiana athletic director Fred Glass tells an Indianapolis business publication.
IU would consider adding the name of a donor to Assembly hall "if someone came forward with a sizable gift," Glass told the Indianapolis Business Journal for its weekly edition that came out today.
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Glass' comment is in the second section of six-section story about the impact IU's success has had in generating revenue at Indiana.
From the story:
All this success even has IU Athletics Director Fred glass talking about a naming-rights deal for Assembly Hall "if someone come forward with a sizable gift."
He said there's a higher comfort level with naming the building or an individual donor rather than a company, and he said Assembly hall could be kept as part of the moniker.
No deal is pending, Glass said. Still, such talk would have been ludicrous just two years ago, in the midst of one of IU's worst losing streaks ever.
Glass doesn't hesitate to defer credit for the success.
"It is impossible to overstate the impact (Coach) Tom Crean has had not only on Indiana basketball but Indiana University," Glass said. "I can't go anywhere without someone going on about how well Tom Crean represents the university."
The current formal title of the building is Branch McCracken Court at Assembly Hall.
The current Assembly Hall began being used as the home court for Indiana basketball with the 1971-72 season.
Three of Indiana's five national championship teams have played there, including the last unbeaten team in college basketball, the 32-0 1975-76 squad.
Assembly Hall is home to seven unbeaten home seasons, including a 56-game winning streak from 1991-95.
As currently situation, Assembly Hall holds 17,472 fans and is home to the largest student section in the nation.
The current Assembly Hall is the fifth home of Indiana basketball following Old Assembly Hall (1900-01 through early 1916-17), the Men's Gymnasium (later 1916-17 through 1927-28), the Old Fieldhouse (1928-29 through 1959-60) and the New Fieldhouse (1960-61 through 1970-71).
Overall revenue generated by IU basketball has climbed from 10.3 million in 2005-06 to 17.9 million last season.
A national championship - IU is currently ranked No. 1 - could be worth $1 million in increased licensing revenue this fiscal year, the report said.
UPDATE
Fred Glass called Peegs.com tonight to update the situation:
"I think it's a non-story. They asked a throw-away question at the end if we'd considering doing a corporate naming-rights deal like Lucas Oil Stadium or, in the old days, the RCA Dome, and my answer was no.
"Then the question came up, 'Would you consider naming after a donor, as is done with athletic and academic buildings throughout campus?' My answer was, I'm not sure why we wouldn't.
"But we're not announcing that we're looking for one or anything like that. I would suggest it's highly unlikely.
"That's something that's fairly common with universities and academic settings not just athletics, but it's not like anything is pending or likely. I think the whole thing is overblown, actually."