EAST LANSING, Mich. (AP) 鈥� has received a $401 million gift from Greg and Dawn Williams, supporting the university’s and athletic department’s fundraising initiatives with the largest donation to the school and one of the richest in history.
鈥淭heir investment in both the university and the future of Spartan Athletics reflects a bold, shared vision for excellence and innovation,鈥� Michigan State University President Kevin M. Guskiewicz said Friday, when the donation was announced at a news conference. “This moment will have a profound impact on generations of Spartans, and we are honored by their confidence in MSU.鈥�
The gift includes $290 million for the athletic department’s $1 billion fundraising campaign that was launched this week and promoted by former Spartan star and Basketball Hall of Famer . Greg and Dawn Williams are also giving $100 million for Spartan Ventures, a non-profit, tax-exempt corporation set up to raise funds for the athletic department.
The donation gives Michigan State鈥檚 teams a boost in of college athletics, particularly its struggling football program.
Athletic director J Batt fired coach with a $30-plus million buyout on Sunday and hired former Northwestern coach to an incentive-laden, five-year $30 million contract earlier this week.
鈥淚n today鈥檚 evolving college athletics landscape, this is a monumental day in the history of Michigan State Athletics,鈥� Batt said. 鈥淕reg and Dawn鈥檚 commitment will provide the resources required for new levels of competitive excellence and student-athlete opportunities, while charting a new path for the Spartan Athletics enterprise.鈥�
Greg Williams is the co-founder and CEO of Acrisure, a financial technology company that bought the naming rights to the Pittsburgh Steelers’ stadium that was formerly known as Heinz Field.
鈥淭his commitment reflects our belief that we should give back to our community 鈥� and to the place we call home,” Greg and Dawn Williams said in a statement. 鈥淢SU is not only the face of our community, but the health and well-being of East Lansing depend on a thriving and successful MSU.”
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