Bobby Smitheran, executive director of athletics at Long Beach State, said these dollars will support scholarships, programs and upgrades that will \u201chelp us forge a path forward\u201d and enter \u201ca new era of college athletics\u201d as the NCAA landscape has changed significantly.<\/p>\n
Generous sponsorship deals have funded the pyramid before. The pyramid was built in 1994 to the tune of $22 million<\/a>, a price tag that forced the university to look for a sponsor, said Barbara Kingsley-Wilson, CSULB lecturer and the \u201cunofficial historian of the university,\u201d according to her colleagues.<\/p>\n The university tried to secure a JetBlue sponsorship (matching the pyramid\u2019s cobalt color) and considered erecting a massive orange sphere (the 76 gas station logo), Kingsley-Wilson said. Ultimately, Mike and Arline Walter, longtime supporters of the university, \u201ccame to the rescue,\u201d Kingsley-Wilson, donating $2 million. In 2005, the sports complex was officially named the Walter Pyramid.<\/p>\n Since then, Smitheran said financial demands have skyrocketed. A recent settlement agreement eliminates<\/a> scholarship limits and allows universities to pay athletes directly through revenue sharing. Those changes create opportunities to attract new talent, Smitheran said, but they are costly. \u201cEverybody\u2019s trying to be as creative as they can in this environment.\u201d<\/p>\n On top of that, Long Beach State is experiencing rising costs across its budget \u2014 everything from \u201chow our teams travel, how they eat, what gear they receive,\u201d Smitheran said.<\/p>\n \u201cThe college athletics landscape is evolving rapidly, and we need to evolve with it,\u201d Mike Walter said in a press release. Walter, former dean of the College of Business and former vice president of Levi Strauss & Co., signaled his understanding of the financial realities precipitating the university to seek a new sponsorship with the credit union.<\/p>\n LBS Financial Credit Union, which was founded in 1935 and first operated out of Wilson High School classrooms, according to President and CEO Sean Hardeman, has a history of generous donations to the university, according to the CSU Committee on Institutional Advancement<\/a>.<\/p>\n LBS Financial will provide the funding upfront, allowing the university to use the money immediately. The Campus Activities Fund will receive $850,000, benefitting all students. But the vast majority of the gift will be dedicated to improving the student-athlete experience, Smitheran said.<\/p>\n Some money may go to much-needed facility upgrades, Smitheran said, adding that he was not able to share details about how funding will be distributed until the board of trustees approves the agreement.<\/p>\n The Walter Pyramid has a history of structural problems, including a leaky roof that has forced Long Beach State to move basketball games<\/a> and a partial ceiling collapse earlier this year<\/a>. The university is undertaking a Pyramid Facility Improvement Project<\/a> and conducting studies to understand the aging building\u2019s roofing challenges.<\/p>\n![\"\"](\"https:\/\/www.newsbeep.com\/us-ca\/wp-content\/uploads\/2025\/11\/new-floor-742334-65ymkdox-107609-IPvqasdb-1024x700.jpg\")
The interior of the Pyramid. Photo courtesy Long Beach State.<\/p>\n