An alumnus of Temple University surprised the crowd at an awards dinner by pledging $25 million to his alma mater.
The donation from Lewis Katz would be the largest gift ever to the Philadelphia school.
Katz made the announcement Wednesday night after receiving a leadership award from Temple's business school.
He did not say how the gift would be used.
Katz graduated from Temple in 1963 and went on to make a fortune in parking lots and real estate. He is a former owner of the New Jersey Nets and Devils.
Katz says comedian Bill Cosby, a Temple classmate, convinced him to reconnect with the university. Katz became a trustee in 1998.
He is currently a co-owner of The Philadelphia Inquirer, Philadelphia Daily News and the website Philly.com.
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