Once upon a time, Mat Ishbia was a little-known walk-on for the Michigan State basketball team.
Now he's donating a record $32 million to the university's athletic department, $20 million of which is tabbed for the football program to upgrade its facilities and 'to give Mel Tucker resources to compete for championships,' according to an official release.
"Recruits and student-athletes are comparing our campus and our facilities to the other top programs in the country," said Tucker. "Thanks to Mat's generosity and vision, we will have a state-of-the-art football facility that will be among the best in the nation. We're incredibly excited to unveil these enhancements in the near future."
Ishbia, the CEO of United Wholesale Mortgage, the largest wholesale mortgage company in the nation, played basketball at Michigan State from 1998-2002. He was a member of the 2000 national championship team, was voted Most Inspirational Player by his teammates as a senior and served as a student assistant under Tom Izzo the year after he graduated.
He credits much of his success in the business world to the lessons he learned from Izzo. $2 million of his donation will go to the Men's Basketball Excellence Fund to be used at Izzo's discretion, and he's requested that the expansion of the Skandalaris Football Center be named in Izzo's honor.
"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.
Ishbia's donation is the largest single cash commitment from an individual in MSU's history.
"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," Izzo said. "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."
