FAU Arena, commonly known as "The Burrow" to the faithful, is set to receive a $3M donation according to the Florida Atlantic Board of Trustees schedule for Tuesday, June 4th. Details of the gift, which once approved is to be made by The Rocco A. and Mary Abessinio Foundation, Inc., are listed below.
The Rocco A. and Mary Abessinio Foundation, Inc. are donating Three Million Dollars ($3,000,000) for a recognition opportunity by naming the basketball court within the FAU Arena (“The Burrow”).
The motion to be put forth at Tuesday's meeting will be to approve naming the basketball court at The Burrow, within the FAU Arena, the “Abessinio Court”.
The gift will be used to renovate and enhance The Burrow and the operations of FAU’s Men’s and Women’s Basketball Programs. In continued pursuit of growing FAU’s Athletics brand on a national level, these renovations will help enhance Florida Atlantic University and Boca Raton.
The renovations and investment into the operations of FAU programs will also positively impact its overall student athlete experience, helping to allow FAU student athletes to excel in the classroom and in competition.
The parties involved recognize and agree that The Burrow is presently a mature building and may be replaced. Therefore, this naming request also seeks the Board’s approval that the name “Abessinio Court” automatically be transferred, without need for further review or approval, to the court of a new arena that replaces The Burrow as the site of the FAU Basketball programs, should such a replacement arena be built.
The FAU Arena plays a central role to elevate FAU’s standing and the renovations will benefit students, community members and student athletes.
Rocco A. Abessinio is the chief executive officer of Roch Capital, Inc. He oversees existing operations as well as evaluating all potential investment opportunities. Rocco Abessinio is also the founder of Applied Bank and Applied Card Systems, Inc., which grew to be the 10th largest issuer of Visa and MasterCard credit cards in the country.
The Abessinios have been longtime supporters of FAU Athletics, culminating with this transformational gift to support a key Athletics venue.
“Through our company, Applied Card Systems, we were proud to be FAU Football Founders and the major sponsor of FAU’s first football game against Slippery Rock University,” said Abessinio. “We are excited at the progress being made under President Kelly and hope that this gift will be another stepping stone in bringing FAU into national prominence.”