There was a distinct opinion in the air last Friday. It showed up on social media, in coffee shop chatter, and even on the MetroNews text line. Some – hard to say how many – object to the WVU Coliseum having a sponsorship attached to it.
Theme One: “It’s always been the WVU Coliseum and should stay that way.”
That sentiment is tone-deaf to today’s college sports landscape. WVU needs new revenue streams to remain competitive in the NIL era, with the transfer portal and constant conference realignment reshaping athletics. Naming rights bring in dollars that help WVU stay relevant.
The Board of Governors knows it. President Michael T. Benson and Athletic Director Wren Baker know it. They understand that success in football and basketball drives enrollment and supports the university as a whole. This isn’t the 90’s in the Big East or the Atlantic 10. The reality is simple: adapt or fall behind. Better to have a name on the Coliseum, than see WVU be unable to compete.
Theme Two: “Hope Gas shouldn’t pay for naming rights. They should lower our rates instead.”
That argument reeks of ignorance and misrepresents how utilities work. Hope Gas is a regulated utility. It operates as a franchise of sorts – usually one utility provider in an area, but it is not guaranteed profits. Its obligation to serve all customers – a result of being granted exclusivity – sometimes means operating in unprofitable scenarios on a case-by-case basis. Shareholders provide the capital and take that risk, aiming for a return on the overall portfolio. It’s part of what is known as the “regulatory compact.” That context is important.
Customers are not paying for these naming rights. There is no new fee on their bill. This is Hope’s money – shareholders’ money earned from the risk taken to make it. It’s not as if this deal magically allows Hope to increase their authorized (regulated) return to somehow make up the difference. If they see value in attaching their name to WVU’s iconic arena, using their profits, that’s their call. If shareholders don’t like it, Hope’s leadership will answer for it.
What’s the alternative? A faceless national conglomerate on the building? Or no deal at all, leaving WVU with fewer resources to compete?
Yes, many families struggle with bills. Inflation stings. “More month than money” is a real challenge. But that doesn’t mean Hope is wrong for choosing to support WVU. Those telling the company not to – or saying they shouldn’t be allowed to – is akin to telling a neighbor how to spend a paycheck. It runs counter to common sense; one might suggest it’s outright anti-capitalist.
Good on Hope for stepping up.
Like it or don’t like it, Hope Coliseum is where the Mountaineers now play.