The University of Michigan announced on Friday morning that the school has received a $7.5 million donation from Michigan alums David and Meredith Kaplan.

Because of the endowment, the Michigan head men's basketball coaching position will now be renamed the David and Meredith Kaplan Head Men's Basketball Coach, currently held by John Beilein (pictured).

Beilein joins football coach Jim Harbaugh as having endowed positions at the school.  J. Ira Harris and his wife Nicki endow the head football coaching post.