JONESBORO, Ark. (AP) - Arkansas State University’s athletics department has received about $10 million in donations to help renovate Centennial Bank Stadium.
A more than $5 million gift from John W. Allison to the Red Wolves Foundation was announced during a board of trustees meeting in Jonesboro, The Jonesboro Sun reported .
Allison is the founder and chairman of Home BancShares, the parent company of Centennial Bank, which currently has naming rights to the football stadium. He’s also a former Arkansas State student who played on the 1968 football team.
Allison’s donation is coupled with a $5 million gift from the bank. The deal extends Centennial’s naming rights agreement through December 2037.
“The Allison family is delighted to be able to make this contribution, alongside the Centennial Bank contribution, with the goal to provide the student athletes at Arkansas State University new opportunities for additional success in multiple areas,” Allison said. “We couldn’t be prouder to assist and be associated with such an impactful project for Arkansas State University.”
The two gifts will go toward the $29 million planned renovation and expansion of the north end zone at the stadium. Trustees last month approved granting 20-year ground and space lease agreements to the Red Wolves Foundation for the expansion.
The expansion will include an athletics facility that will double as a football operations building. The facility will be more than 66,500 square feet and house a new weight room and training area, new locker room areas, meeting rooms, a lounge for players, coaching offices, academic rooms and a team-theater meeting area.
Trustees voted to name the facility the Centennial Bank Athletics Operation Center. They also voted to name the football field Allison Field.
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Information from: The Jonesboro Sun, http://www.jonesborosun.com
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