KNOXVILLE, TENNESSEE — The University of Tennessee announced a $130 million donation from alumni Dee and Jimmy Haslam on Thursday. The contribution increases the Haslams' total support for the university to $195 million.

$100 million will be allocated to the Haslam College of Business for faculty recruitment, student success initiatives, graduate scholarships and undergraduate honors programs. The remaining $30 million will fund a university-wide faculty recruitment initiative.

UT Chancellor Donde Plowman said, "When I shared with Dee and Jimmy our vision to take UT to the next level, they immediately saw the possibilities in our aspirations. I am grateful for their counsel, their vision and their generosity. This historic investment will help fuel our high standard of excellence and grow the impact our university has on the people and communities we serve across Tennessee and beyond." The Haslams said, "The University of Tennessee has always held a meaningful place in our lives, and we are truly honored to give back to an institution that has given us so much. We are honored to make this investment in UT and the Haslam College of Business. The university is experiencing extraordinary momentum, and we are proud to help elevate its national reputation, attract world-class faculty and support the next generation of leaders, all while keeping the best and brightest here in Tennessee." Tennessee Governor Bill Lee said, "This landmark gift from Dee and Jimmy Haslam demonstrates a deep commitment to ensuring the next generation of Tennesseans has the opportunity to reach their full potential. By expanding opportunity for talented students, supporting world-class faculty and strengthening Tennessee's workforce pipeline, this investment will help ensure that the Volunteer State remains a place where innovation, opportunity and service thrive."