Thanks to a $60 million donation, the home of Illinois basketball will undergo major renovations including being renamed.
Assembly Hall, at the University of Illinois in Champaign, will be called State Farm Center as part of a 30-year agreement with Bloomington-based State Farm Insurance.
The News-Gazette reports utility work may begin at the facility as soon as this summer, but the major renovations are not expected to start until March 2014.
The endowment is just part of the funding needed to complete $160 in renovations. Higher student fees, ticket sales and private donations will also help cover the costs for the renovation project, which is expected to be completed in time for the 2016-2017 basketball season.
The university will start using the new name for the facility immediately.