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Statement from President John T. Casteen III

Anonymous Donor Pledges $20 Million To Athletics

June 15, 2001-- "I am pleased to announce today the second-largest single gift ever made to the University of Virginia Department of Athletics. We have confirmed this week a commitment of $20 million from an anonymous donor. This remarkable gift will enable the University to proceed with planning for the new basketball arena, and it represents about one-third of the core funding necessary to launch the project. 

"This extraordinary commitment is wonderful news for men's and women's basketball. The need for a new facility is clear. The larger community also will benefit. We are deeply grateful to the donor for expressing a firm dedication to excellence through this gift."

Background. In October 1998, the Board of Visitors authorized strategic planning for the new arena. Since then, preliminary work has been done to determine the site, identify design possibilities, and plan financing and fund-raising. This spring, the Board included this project in the six-year capital outlay plan submitted to the state. At an estimated cost of $125 million, including associated parking, the facility will be a state-of-the-art arena for basketball, concerts, and other special events. We are now selecting the architect, with the expectation that design guidelines will be presented to the Board at its October meeting.

June 15, 2001

At a meeting of the

University of Virginia Board of Visitors

FOR ADDITIONAL INFORMATION: Contact the Office of University Relations at (804) 924-7116. Television reporters should contact the TV News Office at (804) 924-7550.
SOURCE: U.Va. News Services

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Last Modified: Tuesday, 19-Jun-2001 08:11:36 EDT
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