Maryland Athletics announces $10 million anonymous donation after pair of road wins

Ahmed Ghafir
Jan 27
2 min read

Two months ago, the University of Maryland announced an $18 million donation from Stephen Schanwald with $10 million directed to support “top priorities for the athletic department” with the remaining set to endow the business school’s Sports Management Program. And on Monday morning, fresh off a pair of road wins, Maryland athletics announced one of the largest gifts in history for the university after an anonymous donor pledged $10 million to the athletic department and Terrapin Club.

The announcement comes one day after Maryland defeated Indiana, 79-78, to secure their third consecutive win including their first two true road wins of the season. It's the latest boost for the program ahead of the expected changes to revenue sharing with men's basketball initially expected to manage roughly $5 million beginning next offseason, but head coach Kevin Willard will have more ammo to work with ahead of replacing Julian Reese, Selton Miguel and potentially Derik Queen.

More via release:

The University of Maryland Athletic Department and Terrapin Club has received a $10 million philanthropic commitment in support of Maryland Men’s Basketball, Damon Evans, the Barry P. Gossett Director of Athletics announced.

The donor, who wishes to remain anonymous, hopes to inspire others who share a vision for athletic excellence to follow their philanthropic lead by further supporting Maryland Athletics and the Terrapin Club.

The anonymous commitment will help support the priorities of the men’s basketball program and its greatest needs through a newly established program-support endowment. The proceeds from the endowment will fund men’s basketball operational needs in perpetuity.

“The philanthropic support from our donors plays a pivotal role in ensuring the continued success and growth of Maryland Athletics, providing our student-athletes with the resources and opportunities to excel both on and off the playing surface,” said Evans. “Investments in our programs like basketball not only strengthen the future of Terrapin Athletics but also foster a lasting legacy of excellence and achievement for generations to come.”

This gift comes following Steve Schanwald’s $18 million overall gift to the University of Maryland with $10 million supporting Maryland Athletics in early December.

The anonymous gift of $10 million is tied for the third-largest gift in Maryland Athletics history and marks the second recent $10 million commitment made to the Athletic Department.

To learn more about how you can support Maryland Athletics, visit umterps.com, giving.umd.edu/athletics or reach out directly to the Terrapin Club at 301-314-7020 or tclub@umd.edu.

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