Richard "Pinky" McNamara, a former standout University of Minnesota running back and now a successful business executive, paid tribute to his alma mater with a $10 million donation to the school, the St. Paul (Minn.) Pioneer Press reports.

This is the second-largest private gift made to the university, the paper reports. The largest donation is $25 million given by businessman Curt Carlson in 1986.

McNamara's gift will be in the form of $1 million a year for 10 years. The money has been designated for intercollegiate athletics, the university's liberal arts program and to help complete an alumni and visitor's center, the paper reports.

The donation also kicks off Minnesota's $1 billion capital campaign.

McNamara, 65, is chairman of Bloomington-based Activar Corp. and a co-owner of the Minnesota Timberwolves basketball team. He attended the university on an athletic scholarship and graduated with a liberal arts degree in 1956.

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