He said renovations for the Rutgers Athletic Center remain a priority, and added he is hopeful a presentation about it could be made this summer to the school's board of governors.
"We've talked informally to various people on the board (of governors) about our plan," Pernetti said after the press conference to announce Rutgers Stadium would be High Point Solutions Stadium. "We've put a financial model together that I'm planning to present to our athletics committee, and hopefully our board sometime this summer."
The early idea of the renovation project includes a two-court practice facility, new offices and locker rooms, a new weight room, an all-sports Hall of Fame, premium seating and a club area.
The renovation of the building will allow 19 of the 24 sports to operate from the Rutgers Athletic Center. The cost of the renovation could be in the $30-$40 million range, and the majority of the funding would come through private donations, premium and club seating opportunities and naming rights. Sparta-based High Point Solutions is paying Rutgers $6.5 million over 10 years for the football stadium naming rights.
"Our goal is to get it to the point where we've raised enough dollars and put a plan together," Pernetti said, "where we can get it approved by the board to start to move the project forward."
The renovation would also allow the nationally-ranked wrestling program, women's volleyball and women's gymnastics to stage their competitions in the Rutgers Athletic Center.
During an interview with ScarletReport.com last spring, Pernetti spoke of his desire to complete the project.
"It's the highest facilities priority we have right now given the challenges we face," Pernetti said at the time. "We're recruiting against other schools and our facilities, quite frankly, are behind.
"We need a better environment for all of our sports that are housed in this building, so they can have facilities, locker rooms, weight rooms and training rooms… better access to one-stop shopping.''