OXFORD, Miss. (AP) — The University of Mississippi has announced plans to raise $150 million to build a new on-campus basketball arena and upgrade the football stadium.
The first phase of the program would build a 10,000-seat basketball arena to replace Tad Smith Coliseum, a cramped facility that was built in 1966 and holds slightly more than 9,000 fans. It would also include renovating the concourse and premium seating in Vaught-Hemingway Stadium.
The second phase of the program would bowl in the north end zone of Vaught-Hemingway Stadium, raising the capacity from about 62,000 seats to more than 70,000.
Ole Miss plans to raise $100 million through “capital gift agreements” related to premium seating at football, basketball and baseball games. Another $50 million would be raised through other donations.
