Speculation is surrounding the University of Oregon and a 'big announcement' at a special event at Hayward Field tonight. Phil Knight is expected to be on hand with hundreds of boosters revealing some 'exciting' news about the University of Oregon.

Blogs on the EugeneWeekly.com and UOMatters.com are speculating this huge news could include a donation from Phil Knight ranging anywhere from $800 million dollars to as high as $2 billion dollars.

At this point there is no direct knowledge exactly what the announcement will be. For now the matter appears to be 'just a rumor'. However the rumor appears to be getting legs to it.

Both are reporting the donation will be aimed at scholarships, academics and academic buildings. This is in an effort to eliminate the 'bad blood' between the athletic and academic departments.

Here are the reports from UOMatters.com and EugeneWeekly.com.

The Oregonian has also made a report linking to these two reports.

UOMatters.com

EugeneWeekly.com