MEMPHIS ― Ole Miss baseball is pausing its planned upgrades to Swayze Field, athletic director Keith Carter said at an alumni event Tuesday night.

"We have great facilities right now," Carter said. "We're going to continue to maintain and renovate and do those types of things, but probably for the next couple of years, you won't see anything major."

Carter cited the likely implementation of revenue sharing in college athletics and the uncertainty it has caused as one of the driving factors behind that decision.

Should an agreed court settlement receive approval from a judge, Power Five institutions will be collectively on the hook for 24% of $2.8 billion worth of damages owed to past and present college athletes. Those funds will reportedly come out of the NCAA's distributions to schools. The revenue sharing itself ‒ with a proposed initial cap of roughly $20 million annually ‒ adds to the impending financial squeeze. Fall of 2025 is the reported target period for schools to begin sharing their revenue with their athletes, ending the longstanding era of amateurism in college athletics.

"We're going to continue to invest in everything, but right now with NIL and (revenue) sharing, we're just going to kind of focus on that," Carter said.

The baseball project, which received Mississippi IHL approval in January and was announced by Ole Miss in February, was set to add 450 premium seats within a new club section, along with a new entrance gate and a plaza celebrating the Rebels' 2022 national title team.

Documents show the project was part of a stadium renovation plan for which the budget was $30 million.

The Ole Miss athletic department reported a loss of over $8 million in the most recent fiscal year. Carter told The Clarion Ledger at the time of that report's publication in January that the administration had a plan to grow revenues and slow expenses.

"I feel like we have had to make up some ground, and we've had to kind of do that quickly," Carter said in January. "Most of it is in football, honestly. When you think about that, and us saying. 'Hey, we're going to go all in on football. We're going to commit to a coach. We're going to commit to a winning structure.' I think we've seen the results of that."

David Eckert covers Ole Miss for the Clarion Ledger. Email him at deckert@gannett.com or reach him on Twitter @davideckert98.

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This article originally appeared on Mississippi Clarion Ledger: Keith Carter: Ole Miss baseball to pause Swayze Field renovations