MORGANTOWN, W.Va. (WCHS) — WVU Athletics announced a new partnership Thursday that will rename its basketball arena for the next decade.

The WVU Coliseum will now be known as the Hope Coliseum thanks to a partnership between the university and Hope Gas, according to a news release. It is the first name change for the building in its 55-year history.

“Hope Gas is a West Virginia based company with West Virginia values and aspirations to make West Virginia an even better place to live and work,” WVU Vice President and Director of Athletics Wren Baker said in the news release. “This partnership is an important step in our department’s growth and stability as new revenue generation is vital to our future. Morgan O'Brien is a visionary leader, and we are proud to partner with him and the entire team at Hope to build on a great athletics tradition and form a winning partnership.”

The renaming is part of a 10-year partnership. The financial part of the contract, which was not disclosed in the news release, will generate a “significant” new revenue stream for WVU Athletics and its multimedia rights partner, the university said.

The Hope Coliseum will continue to be a multi-purpose arena hosting athletic events in men’s basketball, women’s basketball, volleyball, wrestling, gymnastics and rifle as well as university functions and concerts.

The coliseum has undergone extensive renovations in recent years, including new seats in 2020, a renovated concourse in 2017, as well as premium spaces in the last three years.