GREENVILLE COUNTY, S.C. (WSPA) – Furman University announced Tuesday morning a $10 million pledge for renovations to Timmons Arena.

Businessman, philanthropist and alumni Ravenel B. Curry III pledged the $10 million gift.

This gift will be the cornerstone of a $40 million project, funded by donations, the school said.

“Investing in major renovations of Timmons Arena is a wonderful opportunity to invest in our student-athletes and the overall Furman student experience,” said Curry, a 1963 graduate of Furman and founder and chief investment officer of Eagle Capital Management in New York.

Timmons Arena is home to Paladin’s men’s and woman’s basketball programs.

The first phase of renovations began in September 2021 with coaches’ offices, locker rooms and film rooms. Subsequent phases will include the addition of donor suites; improved student seating; enhanced food, beverage and merchandise concession areas; upgrades to the entrance and exterior; and changes to the court and seating area.

A timeline for completing the project will depend on raising the balance of the $40 million total, but  Vice President of Athletics Jason Donnelly said more than half of that total has been reached.