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Ole Miss eyes new basketball arena

Updated: August 10, 2011, 3:04 AM ET
Associated Press

OXFORD, Miss. -- The University of Mississippi has announced plans to raise $150 million to build a new on-campus basketball arena and upgrade the football stadium.

The first phase of the program would build a 10,000-seat basketball arena to replace Tad Smith Coliseum, a cramped facility that was built in 1966 and holds slightly more than 9,000 fans. It would also include renovating the concourse and premium seating in Vaught-Hemingway Stadium.

The second phase of the program would ...

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