The new business college complex will replace Stansbury Hall, the old WVU Field House.

MORGANTOWN, W.Va. — A $10 million gift to West Virginia University will make way for a new business education complex where Stansbury Hall is currently located.

Bob and Laura Reynolds’ donation will fund the construction of buildings in their name at WVU College of Business and Economics school complex proposed for Morgantown’s waterfront.

“We really think it’s not only having an effect for our students here but for our students through their experiences. Through our outreach efforts with businesses, corporations, industries and organizations, we’ll have an impact across the state,” predicted Dean Javier Reyes of the business college.

Bob Reynolds was a 1974 graduate of the economics school where he majored in finance.

He is a member of the WVU Foundation board of directors, is president and CEO of three multinational companies: Putnam Investments, Great-West Financial and Great-West Lifeco U.S., Inc.

The couple has been philanthropic at WVU, as well as in Boston and West Palm Beach, Florida, where they are residents.

“We’ll you proud,” Reyes said following a Friday announcement about the so-called “transitional” gift. “I think that’s how we thank them by doing something that will feel proud not only because they started but because they see the result it will have.

The multimillion dollar donation adds to the ongoing “A State of Minds” fundraising campaign that has raised more than $1.069 billion and still has several months to go before the campaign ends.

“We feel highly confident about investing in the future that President Gee and Dean Reyes are building here,” Laura Reynolds said, “and we’re excited to be part of this new and transformational initiative for business education.”

WVU confirmed Stansbury Hall, built in 1928 as Mountaineer Field House, will be replaced.

Included in the announcement, WVU noted the famed Jerry West, who played for the Mountaineers in the late 1950s in the building, supports the plan.

“Building a new business school complex will help the university provide students with the academics and educational experiences they need to be the business leaders of tomorrow,” West said. “It gives me a great feeling that the location of this new complex will be in the location where I already have a lot of great memories.”

According to WVU, the Reynolds have made major gifts to programs across WVU over the years. Their support includes the creation of scholarships, an academic performance center for student athletes at the Puskar Center, funding for the indoor basketball practice facility, renovations to Milan Puskar stadium and funding for a student managed investment fund at B&E.