UPDATED: Friday, April 13, 2012 - 9:54am
WACO -- As of today, Baylor is officially beginning its fundraising for the new football stadium thanks to the largest gift in Baylor University history.
"This is an exciting day for the Baylor football program, the University, Waco and Central Texas as we announce that Drayton McLane and and his family have made the largest capital gift ever to Baylor University it support of the on campus football stadium," Ian McCaw, Baylor Athletic Director said.
Though the donation amount has been withheld, Baylor will no longer be the only school in the Big 12 without an on campus stadium.
After buying the Hotel Waco property, the land became available, they just needed the extra financial push the McLane family provided.
"The largest transformative gift, the largest single capital in Baylor's history to make possible a stadium that will now bare the name, Baylor Stadium, Baylor Stadium on the Brazos," Baylor President Ken Starr said.
Initial reports say the stadium is expected to be built on the 93-acre site next to Interstate 35.
The stadium could hold 45,000 spectators with the ability to expand to 55,000 and will have state of the art amenities throughout.
There will also be a bridge over the Brazos river that will connect Baylor's main campus with the stadium.
But as of right now...
"We're in the midst of the fundraising stage right now so it's going to be very important to us as we visit with other alumnae and friends of the University to get their support and we're very hopeful that we'll have a number of other important gifts that will contribute to the funding and therefore enable us to go before our board of regents and request approval for the project," McCaw said.
This is the first time in 88 years Baylor will have an on campus football stadium and it is expected to be complete by 2014.