Billionaire Dan Gilbert, a Michigan State alum, founder of Quicken Loans, and owner of the Cleveland Cavs, announced yesterday that he is giving a $15 miilion gift to the university.

He announced the gift on Wednesday in downtown Detroit and has always been a fan of Coach Izzo and the MSU basketball program, as he tried to hire Izzo away from the Spartans, but to no avail. The donation is the final financial piece in the $50 million renovation of Breslin Center and the construction of the Izzo Hall of History.

Gilbert's gift will also support Michigan State's Detroit Scholars Program and the Resource Center for Persons with Disabilities.

Men's and Women's basketball caches Tom Izzo and Suzy Merchant were on hand for the announcement. You can see the full video below of Tom Izzo accepting the gift.