CHAMPAIGN — The Illinois athletic department announced the largest donation in its history Tuesday: a $100 million gift from alumnus Larry Gies.

In recognition, the Illini will rename their nearly 102-year-old football stadium Gies Memorial Stadium.

Gies is the founder and CEO of Chicago-based Madison Industries, which calls itself one of the largest privately held companies in the world. He made the gift in honor of his late father, Larry Gies Sr., who was a U.S. Army veteran.

The donation comes in the midst of a massive change in college sports thanks to the finalization of the House vs. NCAA settlement in June. College athletic departments now can participate in direct revenue sharing with their athletes, with the cap set at $20.5 million this year, and many still are figuring out

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