Temple University in Philadelphia has announced a $25 million gift from alumnus ('63) and trustee Lewis Katz.

Katz announced the largest gift in the university’s history as he was being honored by his alma mater with the Fox School of Business's Musser Excellence in Leadership Award. In making his announcement, he did not specify how the funds should be used.

Katz, who received a bachelor's degree in biology from the university in 1963, said it was at Temple that "the path of [his] life changed," and that the opportunity and success which followed were the result of his "extraordinary experience [there]." A former principal owner of the New Jersey Nets and Devils, Katz has served on the university’s board since 1998 and is among a group of investors who bought the Philadelphia Media Network, which owns the Philadelphia Inquirer, the Philadelphia Daily News, and Philly.com, in 2012. He also has helped build two Boys & Girls Clubs in the area that serve nearly three thousand young people a year.

"The evening was intended to honor Lewis for his exceptional leadership and entrepreneurial success," said Temple president Neil D. Theobald. "Not surprisingly, he reflected that honor back on Temple with this historic gift. We are immensely grateful for his most generous pledge."