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Penn State Athletics Reports Record-Breaking Fundraising Year

Penn State and the Nittany Lion Club announce nearly $165 million in gifts for the 2024-25 academic year. Much of that is tied to the Beaver Stadium renovation.
Mark Wogenrich|
A view of the renovations underway at Penn State's Beaver Stadium ahead of the 2025 football season.
A view of the renovations underway at Penn State's Beaver Stadium ahead of the 2025 football season. | Dan Rainville / USA TODAY NETWORK via Imagn Images

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Penn State Athletics and the Nittany Lion Club, the department's fundraising arm, reported a record year for donations during the 2024-25 academic year. According to a Penn State news release, the athletic department and Nittany Lion Club received $164.9 million in gifts, which Penn State called the "most successful fundraising year in department history."

Penn State said nearly 20,000 donors contributed to the athletic department, with much of that funding tied to the $700 million renovation of Beaver Stadium. Penn State said that four of the five largest donations in Penn State Athletics history have gone to the project. The Nittany Lion Club received 100 gifts of $100,000 or more, including 13 gifts that reached seven or eight figures.

“The support from nearly 20,000 donors this year marks a significant milestone for Penn State Athletics,” Penn State Athletics Director Pat Kraft said in a statement. “Raising nearly $165 million, the most in our history, demonstrates the strong belief in our mission and the direction of our programs. This level of investment will have a lasting impact, enhancing the student-athlete experience, advancing key facility projects and positioning us to compete for championships across the board. It’s a transformational moment for our department and our future.”

The majority of those gifts have been designated for the Beaver Stadium renovation, which is scheduled to be completed before the 2027 season. In March, Kraft said that Penn State Athletics had received nearly $131 million in donations for the project. That included a $50 million commitment from B.J. Werzyn, CEO of West Shore Home, to secure naming rights to the field at Beaver Stadium. West Shore Home's gift was the second-largest in Penn State Athletic history, behind only Terry Pegula's $102 million donation to the department to build the Pegula Ice Arena and start two varsity hockey programs.

The Nittany Lion Club is Penn State Athletics' fundraising arm that supports scholarships, capital projects and the teams' Excellence Funds. The Nittany Club now is part of a new Penn State fundraising initiative called ROAR Solutions, which combines the NIL collective Happy Valley United, LaVar Arrington's production company and Penn State's Brand Academy under one umbrella.

Kraft has said that the Nittany Lion Club will be instrumental in positioning Penn State to fund scholarships at maximum levels. The House vs. NCAA settlement expanded the number of scholarships college athletic departments can provide athletes.

"One of the biggest pieces to the House case is pulling the restriction of scholarships off," Kraft said this past winter. "That's huge. That allows us to offer scholarships to all of our athletes if we could afford it. As we're out there raising money, we're trying to let people know that that as important as [the $20.5 million revenue-sharing limit] that gets all the headlines."

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Penn State releases new images of Beaver Stadium construction

Penn State is to racing to complete the temporary seating construction at Beaver Stadium, which will host the season-opener Aug. 30 against Nevada. Penn State is installing more than 7,000 temporary seats, mostly on the stadium's West side that is being rebuilt after getting demolished following the 2024 season. Beaver Stadium also will get some temporary bleachers on two East side concourses.

Penn State is offering some of those seats as season tickets for the 2025 season only. In addition, Penn State is building several temporary broadcast booths for TV and radio coverage during the 2025 season.

Mike Poorman of Statecollege.com shot this look at Beaver Stadium detailing the scale of the temporary bleachers.

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Mark Wogenrich
MARK WOGENRICH

Mark Wogenrich is the editor and publisher of Penn State on SI, the site for Nittany Lions sports on the Sports Illustrated network. He has covered Penn State sports for more than two decades across three coaching staffs, three Rose Bowls and one College Football Playoff appearance.

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