PORTLAND, Ore. -- The University of Oregon's new basketball home will be called Matthew Knight Arena, after a son of Nike co-founder Phil Knight and his wife, Penny.

AP file photo

Phil Knight, president and chief executive officer of Nike, decked out in Nike Oregon Duck gear, in 2004.

Matthew Knight died at 34 in a scuba diving accident in El Salvador, where he was working to raise funds for an orphanage.

Phil Knight rarely speaks in public. He held a news conference at the Rose Garden Saturday with university officials to talk about the name. The arena is to replace McArthur Court.

Knight has put up $100 million for an athletic department legacy fund donation that helped push the arena project toward approval.