BLOOMINGTON, Ind. -- Indianapolis philanthropist Cindy Simon Skjodt has donated $40 million to Indiana University to renovate Assembly Hall.
University President Michael McRobbie announced the gift during a news conference Thursday in which he said the home court of the Hoosiers' men's and women's basketball teams would be renamed the Simon Skjodt Assembly Hall once renovations are complete as early as 2016.
IU says the improvements to the 42-year-old arena will include revenue-generating box seats, a new south entryway, a state-of-the-art video scoreboard, escalators and remodeled restrooms and concession stands.
Skjodt, the daughter of late Indiana Pacers co-owner and shopping mall magnate Melvin Simon, said the pride her father would feel gave her "waves of emotion."
The gift, the largest in IU athletics history, launched a $150 million athletics capital campaign.