An event designed to thank those who have collectively donated $31 million towards the construction of the Goldring Centre for High Performance Sport could cost up to $40,000, according to a source within the Varsity Blues.

The event is planned for November 6 and is paid for by sponsors. As the budget includes a small gift for each guest, the cost could vary according to the final number of attendees.

Sarah Baker, the director of public relations and communications for the Faculty of Kinesiology and Physical Education, said that significant new gifts will be announced at the event, which is also an opportunity to attract new funds.

The Faculty of Kinesiology and Physical Education and the Goldring Centre Campaign Cabinet are currently searching for more supporters to reach the $4.5 million remaining fundraising goal necessary to complete the project.

The Goldring Centre was originally scheduled for completion in January 2015, but will now open in late fall.

Once completed, the Centre will be used as one of the venues for the 2015 Pan American Games. It will also serve as the only research-intensive centre for high performance sports in Ontario.

The plan for the Goldring Centre includes sport science laboratories for teaching and research, a sport medicine clinic, a strength and conditioning centre, and a 2,000-seat international standard field house for basketball and volleyball.

It will also house athletic programs to provincial and national sports organizations that are in partnership with U of T, including drop-in recreation, intramural sports and Varsity Blues training and competition.

Baker emphasized the importance of donors in the University of Toronto and in realizing the project. “It is appropriate and important for the university to recognize and thank donors for their generosity,” she said.

The November 6 event will not be the first time that the university has held a high-cost event for the benefactors of the Goldring Centre.

On January 31, 2012, 300 guests gathered at the Varsity Centre dome for the Goldring Centre groundbreaking ceremony.

In 2006, Warren Goldring, a U of T alumnus and the building’s namesake, made an $11 million donation to establish the centre.

Ontario’s Ministry of Training, Colleges and Universities stepped in with a $22.5 million investment in 2011.

A significant part of funding also comes from other benefactors, including Accenture Inc., Alex Chiu Annual Golf Tournament, C.A. Delaney Capital Management Ltd., EllisDon Corporation, and the Davenport family.

The $58 million centre will be the fourth and final phase of the $98 million Varsity Centre renewal. The previous three phases included Varsity stadium, Varsity dome, pavilion, and arena renovation.

Correction: An earlier version of this article contained outdated information about the Centre’s opening date and fundraising progress.