We have a big naming-rights contract at Colorado State University, as the home of the Rams will now be known as Canvas Stadium after a $37.7-million deal with Canvas Credit Union.
The agreement, which stands as one of the largest collegiate athletic venue naming agreements in history, was part of an ambitious re-branding initiative being undertaken by the previously branded Public Service Credit Union, under the direction of company President and CEO Todd Marksberry.
“Congratulations to Todd Marksberry and the entire Canvas Credit Union family as they move forward with a new name while maintaining their decades-long commitment to serving the people of Colorado,” said CSU President Tony Frank. “We’re proud that the home of the CSU Rams will now be known as Canvas Stadium moving forward, and we could not be more pleased that the partnership we have established with Canvas will create more opportunities to serve our students, our state and its citizens.”
Marksberry, Frank and CSU Athletics Director Joe Parker also announced today a June 15 public event at Canvas Stadium to celebrate the naming of the facility. The official Stadium Name Celebration is scheduled from 1:30-2:30 p.m. on June 15 in the Stadium Club on the fourth level of the west tower, and a Family and Friends Party will run from 3-6 p.m. at the stadium’s New Belgium Porch. Fun for the entire family, including activities on the playing field from 3:30-5:30, highlight the Family and Friends Party. Both events are free and open to the public.
“We congratulate our great partners on their new name and corporate identity,” Parker said. “We are thankful for the partnership we share with Todd Marksberry and the Canvas Credit Union family, which includes the naming of our spectacular on-campus stadium, and we are excited to join in announcing the name Canvas Stadium to the public today. The alignment of the mission of both Colorado State University and Canvas Credit Union to serve people and enhance their lives could not be more appropriate. The name Canvas Stadium provides the perfect reference for one of the nation’s newest and best collegiate stadiums, fully committed to serving our students, faculty and staff, alumni, community and fans. We are honored that one of Colorado’s premier organizations is sharing its name with us.”
Canvas Credit Union is a not-for-profit, state-chartered, member-owned financial cooperative that has been in business since 1938.
The opening of the stadium in 2017 boosted the CSU football program. The Rams set an all-time attendance record with a total of 192,369 fans and a per-game average of 32,062, representing a 16-percent attendance increase from 2016—eighth-highest in all of college football. Season ticket sales also reached an all-time high of 15,477, a 40-percent increase from the 2016 total of 11,054.
The Colorado State agreement with Canvas Credit Union is for 15 years and includes annual escalator clauses for inflation, as well as a signing bonus.
Photo courtesy Colorado State University.