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June 15, 2001
Statement from President John T. Casteen IIIANONYMOUS DONOR PLEDGES $20 MILLION TO ATHLETICS
“I am pleased to announce today the second-largest single gift evermade to the University of Virginia Department of Athletics. We haveconfirmed this week a commitment of $20 million from an anonymousdonor. This remarkable gift will enable the University to proceedwith planning for the new basketball arena, and it represents aboutone-third of the core funding necessary to launch the project.
“This extraordinary commitment is wonderful news for men’s andwomen’s basketball. The need for a new facility is clear. Thelarger community also will benefit. We are deeply grateful to thedonor for expressing a firm dedication to excellence through thisgift.”
Background. In October 1998, the Board of Visitors authorizedstrategic planning for the new arena. Since then, preliminary workhas been done to determine the site, identify design possibilities,and plan financing and fund-raising. This spring, the Board includedthis project in the six-year capital outlay plan submitted to thestate. At an estimated cost of $125 million, including associatedparking, the facility will be a state-of-the-art arena forbasketball, concerts, and other special events. We are now selectingthe architect, with the expectation that design guidelines will bepresented to the Board at its October meeting.
June 15, 2001At a meeting of theUniversity of Virginia Board of Visitors