Penn State Receives Third Major Gift Toward Beaver Stadium Renovation

Penn State athletics received another $10 million donation toward the $700-million renovation of Beaver Stadium on Tuesday. The donor chose to remain anonymous.

It marks the third eight-figure gift the athletic department has received for the project over the past two weeks. Other gifts the university has received toward the renovation include another $10 million gift from an anonymous donor and a leading $25 million donation from the Misitano Family and PAM Health. 

That brings the total major contributions to $45 million in August alone — a significant win for athletic director Pat Kraft, who received an eight-year contract extension on Monday.

Donations of $10 million or more toward the project are dubbed “Founders Gifts” and will be recognized in a plaza outside the stadium upon completion, which is scheduled for the summer of 2027.

“We are thrilled to announce our third Founders Gift in as many weeks for the Beaver Stadium Revitalization project,” 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.”