Bidwill said, "When you look at University of Phoenix, that's what they're really about: They're about technology and improving people's lives. It's a very good, wholesome product, and we're proud to be associated with it."
The school's founder, John Sperling, is considered a pioneer in for-profit education and online education, although the school does have its share of critics, especially among traditional educators. Apollo also has had its share of challenges the past two years, the most recent of which is an investigation into its stock-option grants.
The naming rights cost $7.7 million a year for each of the 20 years of the deal.
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