M&T has signed on for a three-year sponsorship to name Field 2 as M&T Bank Field, the northwestern most field facing Route 1.
M&T held a ceremony to commemorate the venture with DE Turf this week. The event featured a group of student-athletes from Delaware State University’s women’s soccer and lacrosse teams and marching band
The field will host its first tournament the weekend of April 15.
“M&T Bank has been instrumental in the development of DE Turf and they have been a true partner in every sense of the word,” said the complex’s Executive Director Chris Giacomucci. “We’re excited to grow our relationship with M&T and establish DE Turf as a premier multi-purpose sports venue.”
In June of last year, M&T was the underwriter for a $20.7 million tax-free bond issue for the construction and development of the complex. The bond issue allowed DE Turf to take advantage of historically low interest rates by locking in long-term fixed rate financing over a 30-year term.
“DE Turf will provide recreational opportunities that enhance the quality of life and bring an estimated $18 million in economic activity as well as jobs to the region,” said M&T Bank Delaware Regional President Nick Lambrow. “As a community-focused bank, M&T seeks opportunities to strengthen communities, and we believe DE Turf will do just that.”