In Ryan's thread about Pauley, Freesia39 noted that around 11am (all times PST), UCLAAthletics tweeted

Be watching www.uclabruins.com late this afternoon for an announcement about the Pauley Pavilion Renovation project. #UCLA

I guess they meant really late, as sometime between 5:15 and 7:00 they finally got around to posting something. Jump to find out about it.

The general tone of the announcement on the official site seems to be "we have enough money so far...don't worry. In fact, we're doing so well we won't squeeze you for as much a compulsory donation as we thought we'd need to."

"We are happy to announce that due to the enormous generosity of hundreds of donors during our Campaign of Champions, all per seat Wooden Athletic Fund donation requirements throughout renovated Pauley Pavilion will be reduced by 20 percent from the previously-announced levels," said Guerrero.

As before, there will be 2,100 "public seats" that one can have the honor of purchasing a ticket for without contributing additional money. Guerrero also said between cash, signed pledges, and "proposals under consideration," there is $87 million toward the goal of $100 million. He continued,

We also anticipate generating additional funds through sponsorship and naming rights opportunities. [...] We are convinced that members of Bruin Nation will continue to answer the call.

I'm hoping DG will listen to Bruin Nation - especially Bruins Nation and uclabruin34, who suggested in Ryan's thread

Let's all play a game: if you had the 60-70 mil. to donate to the athletic dpt, what would you want named after you. I think I would go for every single line item except for the athletic complex. Football training room, womens basketball office, EVERYTHING would be named after me haha…maybe ive been at work too long and im the only one to think of something like this haha

There are certainly many naming opportunities to be had on the Campaign of Champions site. I found this one troubling: for $40 million, you can have

Arena/Center (attachment name to Pauley Pavilion)

And no, there's no more detail than that. Would it be "YourNameHere Center at Pauley Pavilion"? "Pauley Pavilion/YourNameHere Arena"?

Back to today's announcement: Matt Pauley, co-chair of the Campaign of Champions, said the $65 million committed/already given means they have achieved almost 70% of the $100 million goal, and that they "look forward to exceeding that goal over the next 18 months."

Sideout11 earlier wondered where we would play our home games next year. Today's announcement stated that Pauley

remains on schedule to open for competition in the fall of 2012. Arrangements for the interim venue for the 2011-2012 men's basketball season are being finalized and should be announced by mid February.

If my quote-heavy post is too much for you, just go read the official announcement.