The home of New Mexico Lobos basketball will no longer be known as “Wise Pies Arena.” Last week, the University of New Mexico made it official stating that Wise Pies owner Steve Chavez and Paul Krebs came to an agreement to let go of the sponsorship the company gave to the arena in 2014. The deal was originally worth five million dollars for ten years, but only reached 800,000 dollars with well over seven years left on the deal.
Despite the departure, the parties will leave on good terms. “We have enjoyed our partnership with UNM Athletics,” said Chavez via the Albuquerque Journal.