from President John T. Casteen III
Donor Pledges $20 Million To Athletics
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