WisePies Pizza & Salad Appreciates Opportunity to Have First Naming Rights for the University of New Mexico ‘Pit’ Naming Rights

ALBUQUERQUE, NM – WisePies Pizza & Salad today announced it has reached an agreement with the University of New Mexico (UNM) to conclude its existing 10-year, $5 million naming rights contract of The Pit due to the schools’ pending naming agreement with another company.
 
The letter of agreement between UNM and WisePies Pizza & Salad provides the University the opportunity to give WisePies first right of refusal if another higher sponsorship offer is made.  WisePies leadership decided not to counter the offer and to clear the way for a new sponsor to take over naming rights for The Pit and other UNM entities.
 
The $5,000,000 agreement, signed in 2014, is currently based on the agreed upon schedule of payments between WisePies Pizza & Salad and the University of New Mexico.
 
WisePies Pizza & Salad was prepared to fulfill the terms of the sponsorship agreement.  However, the University of New Mexico’s decision to complete negotiations with another organization means the current agreement is now concluded.
 
“We’re excited to see that the new naming rights for The Pit and other sites will benefit the school and its students and staff,” said Steve Chavez, owner of WisePies. “We’re proud of the sponsorship WisePies was able to provide UNM these past few years as the company shaped up its operations in New Mexico and throughout the country.”
 
WisePies Pizza & Salad will continue to invest in New Mexico and its communities through multiple channels of sponsorships and giving.