From 2009 to 2014, Taylor established himself as one of the best wrestlers in Penn State's history.
The facility is open seven days a week, including 24 hours a day Monday through Thursday.
The deal begins on July 1, 2023, and will run through the 2029-30 season.
The owner, Yean Ngan, faces 13 felony and 26 misdemeanor charges after allegedly withholding more than $600,000 in taxes dating back to 2017.
