CHAMPAIGN — The Illinois athletic department announced the largest donation in its history Tuesday: a $100 million gift from alumnus Larry Gies.
In recognition, the Illini will rename their nearly 102-year-old football stadium Gies Memorial Stadium.
Gies is the founder and CEO of Chicago-based Madison Industries, which calls itself one of the largest privately held companies in the world. He made the gift in honor of his late father, Larry Gies Sr., who was a U.S. Army veteran.
The donation comes in the midst of a massive change in college sports thanks to the finalization of the House vs. NCAA settlement in June. College athletic departments now can participate in direct revenue sharing with their athletes, with the cap set at $20.5 million this year, and many still are figuring out how to navigate the new landscape.
It also comes at a time of buzz around the Illinois department under athletic director Josh Whitman. The football team is ranked in the Associated Press top 10 for the first time since 2001. The men’s basketball team has won 20-plus games in six straight seasons, made an NCAA Tournament Elite Eight appearance in 2024 and advanced to the second round in 2025. The women’s basketball team has made two NCAA Tournament appearances in coach Shauna Green’s first three seasons.
Illinois signed football coach Bret Bielema and men’s basketball coach Brad Underwood to six-year contract extensions in May through the 2030 and 2030-31 seasons.
Larry Gies, center, poses with Illinois College of Business students. (University of Illinois)
Gies recognized that success in a statement announcing the donation.
“Sports is how most people first experience the University of Illinois — it’s the front door of the amazing house we are building,” Gies said. “Josh and the entire DIA (Division of Intercollegiate Athletics) team embody the ethos that is so important to our beloved university.
“I fully support Josh’s mission and the culture he has built at Illinois Athletics. Illini sports moments bring our orange and blue community closer together, and I am so looking forward to the memories we create together in the coming years.”
It’s not Gies’ first major donation to Illinois. In December 2017, he and his wife, Beth, donated $150 million to the university’s business school, which was renamed the Gies College of Business.
Memorial Stadium opened in 1923 and was dedicated to Illinois students and alumni who died in World War I. It has been renovated multiple times, and the university announced this summer $9 million in planned upgrades, including a wireless internet system and a new sound system, video boards and LED lighting.
In 2013, Illinois entered into a 30-year, $60 million naming rights agreement for its basketball venue, Assembly Hall, to be named State Farm Center. The football stadium’s field was named Zuppke Field in 1966 after former coach Robert Zuppke, but the Memorial Stadium name has been untouched until now.
Gies and Illinois Chancellor Charles L. Isbell Jr. recognized the stadium’s dedication to veterans in statements.
“(Gies’) generosity not only honors the memory of his father and all who have served,” Isbell said, “but it also ensures that our stadium will continue to stand proudly as a lasting tribute to the courage, sacrifice and loyalty of our veterans for the next 100 years and beyond.”
Originally Published: September 9, 2025 at 1:43 PM CDT