A proposed $45 million basketball arena at University of Idaho is taking a giant step forward with a huge donation.

According to the Idaho Statesman, Idaho Central Credit Union gave a $10 million donation to U of I, in exchange, receiving the "naming rights to the 62,000-square-foot, 4,200-seat arena for the next 35 years.

Including that donation, U of I has raised a good chunk of the overall funding needed. They now have $34 million of the $45 million needed.

The arena will be built on the north side of the ASUI-Kibbie Activity Center, however, construction "will occur when funding for the entire project is secured."