Indiana to receive $40M donation toward Assembly Hall renovations

Assembly Hall will undergo the most extensive renovation in its 42-year history. (Joe Robbins/Getty Images)

The daughter of the late Indiana Pacers co-owner has donated $40 million to Indiana University for renovations of its Assembly Hall basketball arena.

Indianapolis philanthropist Cindy Simon Skjodt said she felt "waves of emotion" from the pride her late father, Melvin Simon, would feel during the school's news conference Thursday. Her donation was the largest gift in the history of Indiana University athletics and anchors a $150 million athletics capital campaign.

The improvements planned for the 42-year-old arena will include revenue-generating box seats, a new south entryway, a state-of-the-art video scoreboard, escalators and remodeled restrooms and concession stands.

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University President Michael McRobbie said the home court of Indiana's men's and women's basketball teams would be renamed the Simon Skjodt Assembly Hall upon completion of the renovations, possibly as early as 2016.