EUGENE — The University of Oregon has released a conceptual design for its $200 million basketball arena Tuesday to replace venerable McArthur Court.

The building, with rounded glass sides, was created by the architectural team of Ellerbe Becket/TVA Architects. The design is not final, but part of the process.

“We know more right now about the structure of the financing plan than we do about the final design of the arena,” Oregon President Dave Frohnmayer said in a statement. “However, this rendering illustrates why we have no doubt that the final product will be stunning.”

Ellerbe Becket also renovated Autzen Stadium.

Last week the state Legislature’s budget-writing committee endorsed the project. The financing package calls for 30-year state revenue bonds to cover the entire cost of the 12,500-seat arena.

The financial plan considers a $100 million gift pledged by Phil and Penny Knight as a backstop to repay the construction debt if arena revenues and other sources fall short.

The plan must still be approved by the Legislature and the Oregon State Board of Higher Education. The university said it would continue to evaluate ticket pricing to ensure that the project is financially solid.

Oregon hopes to start construction this year and could have it open by late 2010.

McArthur Court, which seats slightly more than 9,000, hosted its first game in 1927. Oregon beat Willamette, 38-10.