That's some double speak that ultimately means they're still a couple years away from maybe having real on paper plans for a new arena but the Coleman renovation may now a dead concept. No one is going to build much of anything right now that hasn't already been in the works for a while. Costs for construction are beyond stupid even compared to when the BD work started a couple years ago.
If they get serious about a basketball only facility and settle on where to build it then they'll pass the hat around and see if they can find a sponsor that wants their name on the building. If they find one willing to work with us then maybe there's something breaking ground by April 2024.
Whatever they do I'm not sure the university can bulldoze Coleman and put something in its place without causing a lot of headaches on campus for school functions that currently happen there. So finding an alternative location would be the first job.
I still like the idea of giving the law school their own mini campus somewhere on the edge of campus and using that property where the law school currently sits to start building a new arena. But admittedly a lot of dominos have to fall perfectly for that to happen.