Board of Regents Stays the Course on Naming Policies

In light of the recent suicide of philanthropist and fraudulent investor Bob McLean, the Tennessee Board of Regents took up the issue of naming rights on its campuses at a meeting Friday.

The Middle Tennessee State University School of Music took on the McLean name soon after his pledge of some 1.5-million dollars to purchase 54 Steinway pianos. Of the ten-year pledge, only three payments were received before McLean was forced into involuntary bankruptcy, facing lawsuits from unhappy investors.

The question taken to the Board of Regents was whether the naming policy should be changed to require a gift paid in full before a building or school is renamed for a benefactor.

Chairman Stanley Rogers said the McLean issue is the exception and that tightening naming rules could hurt fundraising at schools.

“We do not need to act in haste. I think we could do injury to the ability of institutions to raise money from individuals who want to give money.”

Naming rights currently lie with the school but are approved by the Board of Regents. MTSU will ask the board to drop McLean from the School of Music name at its regular meeting this week.