Alongside running the NFL franchise, Cleveland Browns owner Jimmy Haslam is known to actively contribute to the community in Knoxville with his wife, Dee Haslam. They have decided to make another major investment of $130 million towards their alma mater, the University of Tennessee.

“We are honored to make this investment in UT and the Haslam College of Business,” said Dee and Jimmy Haslam in a joint statement, via The University of Tennessee News. “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.”

The plan includes dividing the investment into two parts. $100 million will be used to bring in distinguished faculty, enhance student success initiatives, scholarships, and honors programs.

As for the rest of the $30 million, it will be used to recruit the best faculty across academic disciplines, focused on helping the university’s betterment in research, innovation, and discovery.

“This historic investment reflects the very best of the Volunteer spirit, a belief in our students, our faculty and the power of the University of Tennessee to change lives,” said Brian Broyles, senior vice chancellor for advancement.

The Haslam family had previously donated $35 million to Knoxville’s Lakeshore Park.

This is a developing story. Stay tuned…