Building on the momentum from its 2016 National
Championship, Villanova University received a $22.6 million gift from alumnus
and investment banker William B. Finneran for a renovation of the Pavilion as
well as programmatic support for its men’s basketball program. It is the
largest gift ever to Villanova Athletics.
Finneran, a 1963 Villanova graduate with an economics
degree, has served as a university trustee through 2008 and as a campaign chair
for the previous capital campaign. He received an honorary doctorate from the
school in 1994 in recognition of his generosity, which includes endowing the
men’s basketball head coaching position.
Finneran has served as chairman and managing director of
EXOP Capital, LLC, a long/short hedge fund firm based in New York City, which
he co-founded in 2005. Before that he was a managing director at both Wachovia
Securities and CIBC Oppenheimer Corp.
The Pavilion, which opened in 1986, was originally named
after John E. DuPont. But the name was changed to The Pavilion after Du Pont
was convicted of shooting and killing Olympic gold medal winning wrestler Dave
Schultz in 1997.
Villanova’s press release did not say what the
renovations would entail for the 6,500-seat arena that has been home to several
varsity sports programs as well as the Philadelphia Freedoms of World Team
Tennis. The arena is also used for concerts, conventions, trade shows,
graduation ceremonies and other special events. Planning phases for The
Pavilion renovation will begin immediately and continue throughout 2016.
The gift is part of Villanova’s $600 million
comprehensive capital campaign launched in October 2013. So far, the University
has raised $530 million, including more than $90 million for athletics.
Source: Philadelphia
Business Journal
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