The Muskingum Recreational Center which also uses the OUZ gym as part of their facility (the YMCA also uses it for their programs) is doing the ceremony not the University. So, to answer your question; sort of.

I am not sure who actually owns the gym at this point in time. The MRC put millions into that site, including major improvements to Liitick Hall, which houses the gym.

And, he wasn't afraid to play OHIO on a fairly regular basis -- especially in the late '60s and early to mid '70s period, including one trip to the Convo. OHIO won several of these matchups, including several OHIO wins when OSU was ranked. The home victory in 1971 was against a #4 ranked Buckeye team.

I think Ohio University survive. Heck, 98% of Ohio alumni probably don't even know there's a branch campus in Zanesville.