Update on the new arena
The $100 million pledge by Phil and Penny Knight has a timeline, reported by the Oregonian Saturday and the RG today. The agreement of the Knights’ gift says none of the $100 million may be used for construction purposes and it expires on June 1. So unless the Legislature approves the $200 million in bonds for construction of the new arena by Feb. 29, when the current emergency session ends, the athletic department will not get the $100 for the Legacy Fund.
“We’ve said from the beginning, to people who’ve asked about it, that (the Knights’) pledge is contingent on us being able to move forward on the arena project,” said Allan Price, the UO’s vice president for advancement, when contacted Saturday. “But we haven’t made a big deal about it.”
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“Clearly, we’ve said that the arena project is the highest priority for the athletic department,” Price added. “And if we can’t move forward on it, why give that money to the Legacy Fund?”
And if the Legislature doesn’t approve the bond request? Then it looks like that would be a deal-breaker on the Knights’ donation, Price said
