Most expensive naming rights partnership in college?

I came across an article about naming rights partnerships in colleges and it got me wondering about the monetary aspect. What's the most expensive naming rights partnership for a college building or facility? How does this whole process work?

The practice of naming rights partnerships in colleges usually involves a significant donation from an individual, family, or corporation, in exchange for the "naming" rights to a particular building, faculty, program, or facility. The funds from these donations often go toward construction costs, endowments, research, or other university needs.

One of the most expensive naming rights partnerships known is for the University of Oregon's Knight Campus. This was named after Phil and Penny Knight (Phil Knight is the co-founder of Nike) who donated a staggering $500 million to establish the facility.

As for how the process works, it typically begins with a negotiation between the university and the potential donor. This includes determining the size of the donation, what will be named, and for how long, among other specifics. Once an agreement is made, it often requires approval from the university's board of trustees or similar governing body.

Keep in mind that these donations are usually tax deductible for the donor but the university, as a non-profit institution, does not pay taxes on these funds. This benefits both parties and motivates this type of partnership. The resulting named facility often stands as a legacy of sorts for the donor, marking their contribution to education and research in tangible, enduring ways.

Lastly, please note that the details of many donations—including their amounts—are often kept private, at the request of the donor. So this glimpse into the dollar amounts and processes is not comprehensive but hopefully gives you a general idea.