The University of Houston has reached an agreement on a new arena that will replace historic Hofheinz Pavilion, which has hosted the school's basketball games dating back to Hall of Famer Elvin Hayes' years, through the high-flying Phi Slama Jama era on through this upcoming 2016-17 season, the Houston Chronicle reported.
The new arena had been a point of contention between the university and the descendants of the late Judge Roy Hofheinz, for whom the arena was named after he donated $1.5 million toward its construction in 1969.
Under the agreement, Hofheinz Pavilion will be rebuilt and get a new name, but the university will recognize the Hofheinz's contributions to the school by, among other things, renaming a stretch of the street next to the new arena for him and building a nearby plaza that will include a bronze statue of him.