Wisconsin (WQOW)- State universities could have a new source of revenue - selling the naming rights to academic buildings.
The UW Board of Regents approved the policy change last Friday.
Now, schools can sell naming rights to businesses, nonprofits, foundations or other organizations.
The policy change was spurred by an influx of corporate donations for academic purposes. One example includes the Menard family's recent gifts to both UW-Stout and UW-La Crosse.
Board of regents officials say the naming rights trend has become common across the country and is another way to help pay for new, expensive campus projects. The policy shift comes as a tuition freeze across the UW-System continues and as enrollment numbers decline.
News 18 spoke with UW-Eau Claire Chancellor James Schmidt Monday who said the university is not in any talks to sell the naming rights to a building at this time.