The remains of the ancient school where philosopher Aristotle taught his pupils nearly 2,500 years ago are to be turned into an outdoor museum, thanks to a donation from a betting company, Greece's Culture Ministry says.

The project in central Athens is slated for completion next year at a cost of euro4.5 million ($5.9 million). But it will not use funds from the government, which has promised spending cuts amid the global financial crisis.

Aristotle, who lived from 384 to 322 B.C., studied under Plato and tutored Alexander the Great. Later, in Athens, he taught in the grounds of the Lyceum, a public sports complex frequented by the city's young men.