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The Petersen Events Center is a 12,508-seat multi-purpose arena on the campus of the University of Pittsburgh in the Oakland neighborhood of Pittsburgh, Pennsylvania. It hosts the men's and women's Pitt Panthers basketball teams. The arena is named for philanthropists John Petersen and his wife Gertrude, who donated $10 million ($ in dollars) for its construction. John Petersen, a Pitt alumnus, is a native of nearby Erie, Pennsylvania and is the retired President and CEO of Erie Insurance Group. The Petersen Events Center was winner of the 2003 Innovative Architecture & Design Honor Award from Recreation Management magazine.