The University of Idaho's effort to build a new arena just got a half-million dollar boost.

The university announced Wednesday that Albertsons Companies will have its name in lights on the arena, in return for a commitment of $500,000 over the next 10 years.

The UI arena is a $30 million project. It was announced in October when fundraising approached the halfway point.

Plans call for a 4,700-seat facility to host Vandal basketball and volleyball, as well as a variety of other events, such as concerts.

The university plans to bid the construction next February, if the State Board of Education approves.

Representatives from Albertsons will be recognized Saturday afternoon at the Vandals football game in the Kibbie Dome.