It is called the Lee and Penny Anderson Arena because Lee and Penny donated $75 million.It’s virtually certain that all options were explored and considered, including building a new arena.
The most reasonable conclusion is that a new arena was not feasible right now for financial reasons. If so, Beth made the appropriate decision. Not a bold move but a one assumably constrained by fiscal circumstances.
St. Thomas University has a pretty decent endowment fund for a small Catholic school. Perhaps they have wealthy donors IDK.
St. Thomas Announces Record-Breaking, $75 Million Gift for Multiuse Arena - Newsroom | University of St. Thomas
The Lee and Penny Anderson Arena will be the new home for Tommies hockey and basketball, further elevating the university as a leading Division I national Catholic university.