(CBS) The University of Illinois’ home for basketball has a new name.
The building formerly known as Assembly Hall will now be called the State Farm Center, the school announced Monday.
The deal between Illinois and State Farm is worth $60 million over 30 years.
Next spring, plans are in place for the State Farm Center to begin a $160 million renovation plan.
“When you can check this off the box and it is a big one that certainly puts you in position to move along in a timely manner,” Thomas told the Tribune.