Carolina Panthers owner gives $150M to Wofford.

Jerome Richardson, founding owner of The Carolina Panthers, today gifted $150 million to Wofford College, his alma mater, for need-based scholarships and student needs.

Richardson's life-long contributions to Wofford College exceed $262.6 million, according to a news release.

"Mr. Richardson's loyalty to Wofford College and his commitment to the student experience have been a constant since he came to Spartanburg from Fayetteville, N.C., on a modest football scholarship in 1954," Wofford President Nayef Samhat, said in the release. "After he graduated, he gave even when he had very little to give, and throughout his life's journey, he has remembered his alma mater without fail. This gift is Mr. Richardson once again changing the game for Wofford College students, and we are forever grateful for his love of our college and the countless ways this gift will impact our students, our community and ultimately our world."

The Spartanburg-based school will use the funds for:

Need-based financial aid for hundreds of students

Off-campus U.S and global study opportunities, student and faculty research, internships and entrepreneurial learning opportunities

The transition of the college's support staff to a minimum wage of $15 per hour

A fund for the maintenance, repair and improvement of campus buildings

Awards from the earnings of these funds

"Wofford College has a reputation for supporting student success," Samhat said in the release. "Since the college was founded in 1854, faculty and staff have used the resources available to them to mentor, advise and inspire students such as Jerry Richardson. Now, because of Mr. Richardson, the full Wofford College experience will be available to even more students, especially those impeded by financial barriers."

Richardson credits his Wofford College career as a student and football player with helping...