The renovations will expand premium seating areas, improve amenities for fans and create new revenue opportunities that could be used year-round.
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The action on the Lexington, Kentucky, campus comes after state lawmakers debated whether to limit diversity, equity and inclusion practices at public universities.
The last week has already been a major asterisk on what had been a solid 22-year career.
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In a decision that harkens back to the NCAA’s days of staunch amateurism enforcement, the University of Kentucky football program has agreed to place its football program on two years’ probation and vacate all 10 of its victories from the 2021 season.
The vote is more fallout from the decision by University of Kentucky's board of trustees last month to dissolve the current Senate.
The campus has more than 34,000 students overall, which is up from about 28,000 in 2010.
Barnhart has led the Wildcats' athletic department since 2002.
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President Eli Capilouto said in a written statement that the university will transform Memorial Hall into a space to celebrate diversity.
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A statement on Wednesday from UK president Eli Capilouto said Senior Sophia Rosing will not be allowed to re-enroll as a student.
The move comes after she guided the Wildcats to their first Southeastern Conference Tournament championship in 40 years.