Rutgers Men’s Basketball

DAYTON, OHIO - MARCH 16: Rutgers Scarlet Knights mascot against the Notre Dame Fighting Irish during the First Four game of the 2022 NCAA Men's Basketball Tournament at UD Arena on March 16, 2022 in Dayton, Ohio. (Photo by Andy Lyons/Getty Images)

According to multiple reports including NJ.com that Rutgers is expected to receive up to $100 million for athletics with most of that money set to go toward renovations at Jersey Mike’s Arena, and a new football practice facility.

The state of New Jersey is also slated to commit $150 million to Rutgers Medical Schools and $50 million to build a research hub in downtown New Brunswick.

The news is great for athletics, which has seen a renaissance year as almost every major sport has taken great strides. Football is moving in the right direction as it enters season three of the second Greg Schiano era. Last season, football made it to the Outback Bowl on New Year’s Eve.  Men’s basketball qualified for the NCAA Tournament for the second straight season and recorded several memorable victories against the top competition in the Big 10 along the way.

Baseball made it all the way to the Big Ten Tournament Championship Game, while Women’s soccer and Men’s Lacrosse both qualified for the NCAA Final Four.

The news also comes a week after it was reported by TapInto New Brunswick that the University will see a 2.9 percent increase in tuition rates after the university approved a $5.1 million budget for the 2022-23 academic year.

Regarding the fiscal budget which begins on Friday, it is worth upwards of $50.6 billion and has flown through the State Legislature and Assembly, expected to be finalized Wednesday before Governor Phil Murphy signs it into law on Thursday.

The budget makes many promises, with a $2 billion property tax relief initiative being the headliner. The deadline to get the package signed, sealed, and delivered is Friday.

GALLERY: Rutgers Scarlet Knights Men's Basketball 2022