Nike founder and CEO Phil Knight has pledged a $100 million donation for the athletic programs at the University of Oregon. UO President Dave Frohnmayer and Athletic Director Pat Kilkenny made the announcement this afternoon of the largest philanthropic gift ever received by the university.

The donation from Phil and Penny Knight will create the Oregon Athletics Legacy Fund, which will be used to support all athletic programs at Oregon, according to a press release from the school. The university hopes to attract other donations to create a fund totaling $150 million.

The Knights have been longtime supporters of the University of Oregon academics and athletics and are now the largest donors in the university’s history. Prior gifts have included funding for the School of Law, the UO Libraries, more than 15 endowed faculty positions and a number of other academic and athletic gifts.