A $10 million VCU basketball complex gets a generous investment from a local company.
MeadWestvaco Corporation (MWV) will give $3 million over 10 years to VCU to help fund construction of the University’s new basketball complex, the largest gift in Athletics Department history.
“Our program is extremely thankful for this tremendous gift,” said VCU’s men’s basketball coach Shaka Smart. “The new practice facility will mean a great deal to our team. Not only will it enhance the student-athlete experience and provide a competitive advantage, it will also be critical to our ongoing efforts to attract high level student-athletes to VCU.”
The 22,300 square-foot basketball complex is expected to begin construction this year and cost approximately $10 million. Built adjacent to the Siegel Center, the complex will house facilities dedicated to strength-training, academic advising, video study, team meals, and practice.
VCU President Michael Rao said, “Athletics is an important window into VCU for so many people, and MeadWestvaco’s latest gift is a game-changer for our athletics program.”
John Luke, Jr., Chairman and CEO of MWV, who was appointed to the VCU Board of Visitors in 2012, said, “VCU is a vital and vibrant part of our Richmond community. The success of VCU’s basketball team has attracted national attention and raised the university’s profile on the court and in the classroom. MWV is proud to support the continued growth of this world-class university in our community.”