Pan American Center set to be renamed following naming rights deal

LAS CRUCES, New Mexico - The Pan American Center could soon be getting a name change.

Tuesday afternoon, New Mexico State's Board of Regents voted to approve a naming rights deal with White Sands Federal Credit Union.

A source with knowledge of the discussions confirmed to ABC-7 the deal is a 10-year agreement worth $13 million.

Documents obtained by ABC-7 show the $13 million would be paid in annual installments of $1.3 million.

ABC-7 reached out to NMSU for comment and a spokesman provided the following statement:

"We are aware of reports regarding a potential naming rights agreement. While discussions continue, there are still details that need to be finalized, and we are unable to provide comment at this time."

ABC-7 also received a statement from Phillip Fifield, CEO of White Sands Federal Credit Union.

Fifield says the process could still take months before the deal is finalized.

"This is a process and still has to go through contract review, legal, etc. before any signatures are done and then a formal announcement will be made. This could take a few months if all this goes well," Fifield said.

Once the deal is complete, the arena where NMSU hosts basketball and volleyball games will be called the White Sands Federal Credit Union Arena at the Pan American Center.

The Pan American Center opened in November of 1968.