The planned improvements modernizing include premium amenities and upgraded seating options, reports The Knoxville News Sentinel.
The home-plate entrance to the stadium will be redesigned to incorporate a premium tower.
Total capacity after renovations is not set yet, but the existing capacity at the stadium is about 4,283.
The university says it intends to solicit feedback from fans about what types of seating options they would purchase. Initial renderings of the renovated stadium include six suites and 300 club seats.