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LBS Financial Pyramid: A New Era for Long Beach State Athletics

Update New Era for Long Beach State Athletics: The LBS Financial Pyramid In an exciting development for Long Beach State Athletics, the California State University Board of Trustees has officially approved a transformative $8.5 million sponsorship agreement with LBS Financial Credit Union, leading to the renaming of the iconic Walter Pyramid to the LBS Financial Pyramid. This deal, which spans 12 years, allows for an upfront funding delivery, providing Long Beach State immediate access to vital resources aimed at enhancing the student athlete experience. Why the Change Matters The Walter Pyramid, an architectural marvel completed in 1994, has long served as a cornerstone for campus events, housing four Division I intercollegiate athletics programs including the reigning national champions in men’s volleyball. With a history that recalls contributions from major supporters like Mike and Arline Walter, who donated $2 million in 2004 to secure the arena's name, this renaming signifies growth and adaptation to modern challenges in collegiate sports. The Evolving Landscape of College Athletics In recent years, the NCAA environment has drastically changed, pushing universities to explore various revenue-generating options. Bobby Smitheran, Long Beach State’s athletic director, highlighted the need to evaluate every potential source of income to meet the escalating costs associated with college athletics. He emphasized, "This partnership not only maximizes our potential for winning championships but also aims to be a rallying point for both our campus and the broader Long Beach community." The financial influx from LBS Financial will particularly enhance scholarships and facility improvements crucial for supporting student-athletes. Community Commitment: A Shared Vision The LBS Financial sponsorship is not merely a financial transaction but a commitment to the community. With over 70 years serving CSULB faculty, staff, students, and alumni, LBS Financial Credit Union embodies a legacy of support. Sean Hardeman, President and CEO of LBS Financial, expressed pride in this partnership, seeing it as a boon to both the university and the city of Long Beach. He noted, "This partnership aligns perfectly with our mission, enhancing educational opportunities for students while further solidifying our presence within the community." The Future: Building on Legacy Barbara Kingsley-Wilson, a lecturer at CSULB, reviewed the significance of such naming rights in the context of soaring athletics costs, acknowledging the shift as a necessity rather than a surprise. Mike Walter himself, a pivotal figure in the naming history, articulated the importance of progression in collegiate athletics, stating, "We need to evolve with the rapid changes in the sports landscape." This sentiment underscores a broader trend in college sports where funding and community involvement become increasingly intertwined. Celebrating Heritage while Embracing Change As the pyramid transitions from the Walter name to that of LBS Financial, it honors its past while stepping boldly into the future. The Walters have been dedicated patrons to CSULB, and their understanding of this sponsorship is rooted in selflessness, aiming to enable continued support for both athletics and academia. It’s a move that celebrates history yet is inherently forward-looking—symbolizing the dynamic nature of college sports today. Your Role in the Future of College Athletics Long Beach State has opened a dialogue about the future of collegiate sports, urging the community to consider its involvement actively. With significant funding opportunities and increased community engagement, this landmark decision prompts both pride and involvement among local residents. Supporting these initiatives can have far-reaching benefits for student-athletes and the overall collegiate experience. The LBS Financial Pyramid isn’t just about a name change; it’s a rallying call for unity and support for our athletes and community.