(WXYZ) -- Michigan State announced a donation commitment of $32 million from alumnus and former basketball player Mat Ishbia on Thursday.
Ishbia, chairman, president and CEO of United Wholesale Mortgage, graduated from Michigan State in 2003 and was part of the Spartans' 2000 National Championship team.
The university says Ishbia's donation is the largest single cash commitment from an individual in its history.
$20 million of Ishbia's donation is earmarked for expansion and renovation of the Skandalaris Football Center, with other funds slated to create the Spartan For Life Fund for current and future alumni, and the MSU Athletics Excellence Fund.
As part of the donation, Ishbia has requested that the expansion of the Skandalaris Football Center and the Breslin Center’s basketball court be named in honor of Tom Izzo. The name change is pending approval from the university's Board of Trustees.
“This donation is not about me, this is to give credit to and thank coach Tom Izzo, the business school and Michigan State University for the incredible impact they have had on my life,” Ishbia said in a release.
$2 million of Ishbia's donation is designated for the Men’s Basketball Excellence Fund, which can be used at the head coach's discretion to support the program.
“This gift speaks volumes to Mat’s character and the way he runs his business today; always focusing on creating a family atmosphere and being there for one another," said Izzo. "His generosity will benefit the Spartan family for years to come, enriching the lives of so many Spartans well beyond their time at Michigan State. I am honored and humbled by his gift and thankful for his philanthropy, but I am more proud of the man he is."