Real estate magnate and Miami Dolphins owner Stephen Ross plans to give $200 million to the University of Michigan for its business school and athletics programs.
The Ann Arbor school made the announcement Wednesday, saying it represents the largest single donation in the university's history. The school says the gift will "significantly transform the student experience at the business school and athletic campus."
The money will be split between the Stephen M. Ross School of Business and University of Michigan Athletics, and raises Ross' total giving to his alma mater to more than $313 million. The Athletic Campus is expected to be named the Stephen M. Ross Athletic Campus.
Specific projects will be announced in the coming months. In addition, scholarships will be available to Ross students.