Sorry to drag this back up, but I felt the OP kinda missed some of the key, and truly disgusting, quotes from the story:
Still the situation escalated. While walking across campus one day, John spotted a hand-lettered sign: “Do not swim with the n****r.” John pulled that one down and collected several more that he found in the area and took them directly to Dr. Naismith.
McLendon met with the other sixty-odd black students at KU and explained his plan: Stay away from the pool for two more weeks, and we can have it forever. When the two weeks passed quietly, Allen called McLendon a “smart-aleck” but lived up to his promise. The pool was open to all students from that day forward.
It's embarrassing to this state that KU is allowed to honor the memory of such an obvious racist by not changing the name of their arena. If anything, it should be named for Naismith, who was evidently the only higher-up at KU at that time who wasn't racist.
Of course, that piss-smelling, rat-infested old shack is a somewhat fitting tribute for a disgusting racist like Phog Allen.