Penn State Announces Second $10 Million Anonymous Donation for Beaver Stadium

Penn State has received $45 million in donations for the Beaver Stadium renovation project.

A rendering of the proposed renovation of Penn State's Beaver Stadium, which is scheduled for completion in 2027. / Courtesy Penn State Athletics

Penn State on Tuesday announced a second anonymous donation of $10 million for the Beaver Stadium renovation project. Penn State has received three Founders Gifts totaling $45 million for the renovation plan, which is scheduled for completion in 2027.

Two of the the donations have been made anonymously. The first, a $25 million donation from Anthony Misitano and PAM Health, kicked off the Founders Gift program, which recognizes eight-figure contributions to the stadium renovation plan. Penn State has projected raising as much as $134.3 million through philanthropy for the renovation.

“We are thrilled to announce our third Founders Gift in as many weeks for the Beaver Stadium Revitalization project,” Penn State Athletic Director Patrick Kraft said in a statement. "We extend
our heartfelt thanks to this family for their unwavering support of Penn State Athletics and Penn State. This remarkable gift underscores the commitment our community has to enhance Beaver Stadium and the game day environment, while maintaining the deep history of our iconic stadium.”

Penn State has begun work on the $700 million renovation of Beaver Stadium, which will transform the venue's West side while maintaining seating capacity above 100,000. In May, Penn State's
Board of Trustees approved funding for the project, which has been touted as "the most significant venue renovation in the history of modern college sports.”

RELATED: Penn State continues work on Beaver Stadium ahead of 2024 season

Beaver Stadium's West side will be demolished and replaced during the renovation, marking the stadium's most significant change since a 2001 expansion added more than 12,000 seats, bringing the stadium's capacity aboce 100,000. First, the press box and upper deck of the West stands will come down in 2025. Penn State then is scheduled to replace the lower bowl in 2026. The new West
Tower will house loge boxes, private luxury suites and what Penn State called "two distinct club seat experiences with lounge access." It also will feature expanded concourses with open views of the field.

In addition, the West Tower will house a new "Welcome Center," which Penn State President Neeli Bendapudi said would create a "front-door experience" for the university. Penn State said that the new West Tower will include 59,000 square feet of event space.

"I believe that Beaver Stadium is one of the most iconic buildings in all of sports," Kraft said in a May interview. "So it keeps Beaver Stadium around for generations to come. It will provide us an increased revenue stream for us. I think we will continue to have the best gameday experience in the country. And I think it's a building now that we can use, much like we did with [an April concert by] Luke Combs, for far more than just seven or eight days in the fall."

On Monday, Penn State announced a five-year extension for Kraft, who took over as the Nittany Lions' athletic director in 2022. Penn State football coach James Franklin called the extension "really good for the university."

"I think the biggest thing is, we've got a man leading the department that is a competitor," Franklin said. "I'm talking about a fierce competitor in everything he does. That's important. You guys have heard me say before about the importance of having people in — I hate using this expression — but having somebody in the foxhole with you. Whether that is women's soccer or whether that's fencing or whether that's college football and wrestling, that's important to have somebody that can relate and understand the challenges and wants to come up with solutions."

Penn State opens the 2024 football season Saturday at West Virginia. Kickoff is scheduled for noon ET on Fox. The Nittany Lions will play their home opener at Beaver Stadium on Sept. 7 against Bowling Green. Kickoff is scheduled for noon.

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Penn State on SI is the place for Penn State news, opinion and perspective on the SI.com network. Publisher Mark Wogenrich has covered Penn State for more than 20 years, tracking three coaching staffs, three Big Ten titles and a catalog of great stories. Follow him on X (or Twitter) @MarkWogenrich.