The Board of Trustees of the Boca Raton, Fla., school formally accepted the gift, and will attach the name GEO Group Stadium to the $70 million football facility, built in 2011 and currently named FAU Stadium, for the next 12 years, the South Florida Sun Sentinel reported Wednesday.
GEO Group owns or runs over 100 correctional facilities, holding a total of 73,000 beds, in the United States, Australia, South Africa and the United Kingdom, the newspaper said, and has its headquarters in Boca Raton.
"We couldn't be more local," said GEO founder and CEO George Zoley, a Florida Atlantic alumnus. "This is the finest example of community outreach our company has activated in its history."
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