Stephen Schanwald, a former Chicago Bulls executive vice president of business operations, is set to give $18 million to the University of Maryland, this university announced on Tuesday.
Schanwald has directed $10 million to Maryland athletics to support the department’s top priorities, according to the news release. The business school will receive $8 million for its Sports Management Program and scholarships for students.
The donation is the third-largest gift in Maryland Athletics history, according to the news release.
This university will name the sport management program, Xfinity Center Pavilion and Jones-Hill House football practice fields after Schanwald.
“It’s a great blessing at this stage of my life to be able to have the opportunity to try to help young people grow and achieve their dreams,” Schanwald said in the news release.
Schanwald, a 1977 graduate, had stints with the United States Air Force Academy, Pittsburgh Pirates and Chicago White Sox throughout his sports marketing career. Before then, Schanwald was an intern under this university’s former sports marketing director Russ Potts, who was also the first person to hold the position at this university.
The Stephen M. Schanwald-Russ Potts External Operations Suite in Xfinity Center will honor Schanwald and his former mentor at this university, according to the news release.
“Stephen Schanwald left an indelible imprint on the NBA,” university president Darryll Pines said in the news release. “Now he’s doing the same for the University of Maryland and current and future generations of students, student-athletes and Terps fans.”
