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Sun Aug 28, 2016, 08:59 PM

Wayne State University gift comes with strings

In order to get $40 million from Mike and Marian Ilitch to build a new business school and fund scholarships, Wayne State University has to pay the dean of the school at least as much as any other dean on campus and consult with the Ilitches on curriculum.

However, the university retains the right to make the final decision on what will be taught at the school and who the dean will be.

These conditions, and a host of others, are spelled out in a 42-page agreement between Wayne State and the Ilitches, who donated the money last fall. The majority of the money $35 million will go toward the $50-million cost of constructing a new business school near the Detroit Red Wings stadium and the rest will fund scholarships. The Ilitches own the Red Wings and the Detroit Tigers.

The university is hoping to raise another $10 million toward construction costs and will cover the remainder out of its budget.

Read more: http://www.freep.com/story/news/local/michigan/detroit/2016/08/27/ilitch-wayne-state-gift-business/89338346/

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