Arthur Sorrentino, Director of Communications
The University of Connecticut Foundation, Inc.
2390 Alumni Drive
Storrs, Conn., 06269
Sarah Barr, VP External Communications
145 Bank Street Waterbury, Conn., 06702
From right, Jerry Plush, President and COO of
Webster Bank; Harriet Munrett Wolfe, Executive VP,
General Counsel and Secretary of Webster Bank;
and John Martin, President of The University of
Connecticut Foundation. August 29, 2012 Storrs and Waterbury, Conn.—Webster Bank, which recently announced a multi-year marketing relationship with the University of Connecticut, has made a significant financial investment to support construction of the new Basketball Development Center on the UConn Storrs campus. Financial terms of the agreement were not disclosed.
"We believe this investment in the Basketball Development Center is an important part of our overall commitment to the University and shows our confidence in UConn's exciting future" said Jerry Plush, president and chief operating officer of Webster Bank. "We believe Webster's history, values and commitment to the community represent a natural fit with UConn and what the University stands for, and we are delighted to be partners."
The agreement between Webster and UConn was described as a "unique partnership" that for the first time will bring together all aspects of the University's marketing activities, including its high-profile athletic program and efforts to reach out to the more than 200,000 alumni and 28,000 UConn students. It will be managed by IMG College, the nation's leading collegiate multimedia marketing and licensing/brand management company, and will integrate media, hospitality, venue signage as well as use of intellectual property for branding, promotions and affinity marketing.
Webster Bank also committed to provide support for the Basketball Development Center.
"We are most grateful to Webster Bank for its very generous commitment to one of the University's most important and visible priorities," said John Martin, President of the UConn Foundation. "UConn basketball is a hallmark of the state and Webster Bank is one of the most respected companies in Connecticut. We welcome their support and look forward to a long and successful partnership in the years ahead."
To date, more than $21.5 million has been raised for the Basketball Development Center to be constructed adjacent to Harry A. Gampel Pavilion on the former site of Memorial Stadium. It is the first building project at UConn that will be funded entirely through private donations, and is already at 60 percent toward the targeted goal. The 70,000-square foot facility, which features dedicated practice gyms for men's and women's basketball, along with locker rooms, coaches' offices and areas for academic support, video analysis, sports medicine and strength training, is expected to break ground in the spring of 2013.
The University of Connecticut Foundation, Inc. of Storrs, Conn., was founded in 1964. The foundation is a tax-exempt corporation that operates exclusively to promote the educational, scientific, cultural, and recreational objectives of the University of Connecticut. As the primary fundraising vehicle for the university, the foundation's mission is to solicit, receive, and administer gifts and financial resources from private sources to support UConn's pursuit of excellence in teaching, research, and public service.
Webster Financial Corporation is the holding company for Webster Bank, National Association. With $19 billion in assets, Webster provides business and consumer banking, mortgage, financial planning, trust and investment services through 167 banking offices, 464 ATMs, 290 of which are owned by Webster and 174 of which are branded, telephone banking, mobile banking, and the Internet. Webster Bank owns the asset based lending firm Webster Business Credit Corporation; the equipment finance firm Webster Capital Finance Corporation; and provides health savings account trustee and administrative services through HSA Bank, a division of Webster Bank. Member FDIC and equal housing lender. For more information about Webster, including past press releases and the latest annual report, visit the Webster website at www.websterbank.com.
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