St. Thomas receives $75M gift for new multiuse arena
ST. PAUL, Minn. -- The University of St. Thomas announced Tuesday morning a $75 million gift that will go toward a new multiuse arena. The college reports that it's the largest single donation a Minnesota college or university has ever received.
The university says it will be used to build a state of the art hockey and basketball arena on campus.
This news comes as the university transitions to NCAA Division I athletics. The university's basketball and hockey programs are among the varsity sports who made history in 2021 as the first Division III institution in the modern era to transition directly to Division I athletics competition.
St. Thomas says the record-breaking gift was given by Lee and Penny Anderson, who also donated millions to build a new student center in 2007.
"For the first time ever, Minnesotans have a private university option for D-I caliber education and athletics and we're proud to be part of making this vision a reality for young people in Minnesota and beyond," Lee Anderson said. "Higher education is one of the world's most important institutions because it truly has an ability to have a positive impact on the world, and the world needs St. Thomas' students and graduates."
The new arena is expected to open in the fall of 2025.