UF to Rename Arena in Lucrative Deal with Tower Hill Insurance

The University of Florida is renaming its primary multi-purpose arena following a new naming-rights agreement with Tower Hill Insurance, the Orlando Sentinel reported.

The deal between the Gainesville-based insurer and the UF University Athletics Association (UAA) is set to run for five years, concluding on June 30, 2031. While the specific financial terms remain private, a source told the Orlando Sentinel that the agreement represents the most lucrative naming-rights deal for a college sports arena.

This shift marks the end of a 10-year partnership with Exactech, a medical device company based in Gainesville. That previous arrangement, which was established in 2016 after a $64.5 million renovation, titled the facility the Exactech Arena at the Stephen C. O’Connell Center.

The O’Connell Center serves as the home for several major University of Florida programs, including men’s and women’s basketball, volleyball, and gymnastics. Under the new terms, Tower Hill Insurance will hold the naming rights for the duration of the contract, which includes an option for an additional five-year extension.

The decision to rebrand follows large capital investments in the university's athletic infrastructure. On Thursday, the UF Board of Trustees approved the naming-rights arrangement along with a $22.5 million loan intended to fund the $77 million expansion of the Lemerand Athletic Center.

This expansion is a component of a broader $1.45 billion renovation project for the university’s football stadium, commonly known as the Swamp. The new Lemerand Center is designed to house UAA offices, including the office of the athletic director, allowing them to relocate from Ben Hill Griffin Stadium.

Project or Agreement	Financial Figure	Primary Purpose
Exactech Deal (2016)	$5.9 million	10-year naming rights agreement
O’Connell Center Renovation	$64.5 million	Facility modernization
Lemerand Athletic Center Expansion	$77 million	New three-story athletic headquarters
Swamp Renovation Project	$1.45 billion	Comprehensive stadium overhaul

While the influx of naming-rights revenue provides a critical boost to the UAA’s operating budget, the scale of the concurrent renovations highlights the massive capital requirements of modern collegiate athletics. The university is balancing high-value corporate partnerships with large debt obligations to stay competitive in major sports conferences.

The expiration of the Exactech agreement and the subsequent transition to Tower Hill Insurance shows how collegiate sponsorship is changing, as local corporate entities increasingly fund large-scale facility upgrades.