Nike Cofounder Phil Knight Donates $1 Billion to University of Oregon

Nike cofounder Phil Knight and his wife, Penny, have donated $1 billion to the University of Oregon, in what is believed to be the largest known donation ever made to a flagship state university, according to a report from The Guardian.

The donation was first reported by local Oregon media and The New York Times before being confirmed more broadly.

Funding a New Engineering School

The gift will go toward the creation of a new engineering school at the university's campus in Eugene, Oregon, according to the report.

The report does not specify additional details such as the planned timeline for the school's construction, its expected enrollment capacity, or further specifics of how the funds will be allocated.

Knight, who co-founded Nike and has deep ties to the University of Oregon, his alma mater, has made numerous prior donations to the school over the years, though this gift is described as the largest of its kind to a flagship university.