Dolan donates $25M to university

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The biggest donation in Fairfield University history will have a major impact on business school students, but will also be felt by all whom attend the university. A large part of the $25 million gift from Trustee Charles F. Dolan, founder and chairman of Cablevision, will be placed in an endowment to create more faculty chairs. Other endowment funds will be set aside for student financial aid packages and technology improvements at the business school. In addition, the donation – announced Tuesday — will allow the university to complete the financing of the acquisition of the former Conference Center in which the business school currently resides. And effective immediately, Fairfield has renamed its School of Business the Charles F. Dolan School of Business. The name change marks the first time that Fairfield has named one of its schools after an individual of any kind. FUSA President Kevin Hayes was quick to point out that this donation will be benefiting the university as a whole, and that the school will not lose its liberal arts tradition. “The appearance might be right now that a disproportionate amount of this money is going to the Dolan School of Business,” said Hayes. “I can sympathize … but for example, more money is actually being spent on the renovation of Bannow than the [Dolan] School of Business acquisition.” Rev. Aloysius P. Kelley, university president, agrees. “The students always benefit whenever any quality of their school is enhanced,” said Fr. Kelley. “[Fairfield] is joining an elite group of universities which hav e named business schools, and this donation will give us the ability to retain and attract high-quality faculty members.” Dolan is one of the most successful business-people in the nation. Along with its subsidiaries, Cablevision owns the New York Knicks of the NBA, the New York Rangers of the NHL, Madison Square Garden, American Movie Classics, Bravo, MSG Network, MSG Metro Channels, News 12 and Radio City Music Hall Entertainment. Cablevision also owns retailers Nobody Beats the Wiz, and offers cable television, local commercial and residential telephone service and high-speed Internet access. In addition, Cablevision holds a 25-year lease on Radio City Music Hall. Currently, Cablevision serves 3.4 million cable customers in metropolitan New York, Boston and Cleveland. The positive effects of having the Dolan named associated with Fairfield in such a prominent manner cannot be understated, according to Fr. Kelley. “Charles Dolan represents vision, imagination and integrity … it [Dolan] is a name that has been on the cutting edge of many industries for many years.” The impact of this donation, made in the name of both Dolan and his wife, Helen, was immediately felt across the nation upon its announcement on Tuesday. Given the donation’s extreme size, the story has so far been picked up by several major news outlets, including Connecticut Post, The New Haven Register and Channel 8 in New Haven. “Helen and I are honored to contribute to Fairfield University’s future and to that of its students,” said Dolan in a press release. “The confidence of a well grounded business education is the base of a solid career. At Fairfield, students have the opportunity to become leaders and its level impact on American business will continue to grow in years to come.”

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