Detroit's Ilitch family to give $40 million to Wayne State
The Ilitch family will donate $40 million to build a new downtown home for Wayne State University's business school, the Detroit Free Press reports, citing a person familiar with the plan. The gift of property and cash from the Ilitch family will reportedly include $35 million for construction and a $5-million endowment for what would be renamed the Mike Ilitch School of Business, after the Little Caesars co-founder and owner of the Detroit Tigers and Red Wings. An official announcement of the donation could come this week, sources told the Free Press. The Wayne State project would be part of a major redevelopment of the northern edge of Detroit's downtown in which the Ilitches are heavily involved. The $650-million revitalization plan includes a new arena for the Red Wings hockey team and an expanded entertainment district.