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UA Coit's athletic commitment Wednesday, saying it would name ÃÛÁÄÖ±²¥ Stadium's Gate 3 and its athletic director position after him, making Desiree Reed-Francois now formally its R. Ken Coit Director of Athletics. 

ÃÛÁÄÖ±²¥ did not specify where the funds would be allocated, nor the donation schedule, though Reed-Francois said in a UA statement that Coit's gift "will help us continue to invest in the future while honoring the values that make the Tucson community and the University of ÃÛÁÄÖ±²¥ so special."

Also in UA's statement, Coit said he hoped his commitment "strengthens the foundation of competitive excellence" and inspires future UA athletes. 

"ÃÛÁÄÖ±²¥ needs to compete at the highest levels, and I believe we have the right leadership in place that can elevate ÃÛÁÄÖ±²¥ Athletics," Coit said. "To do that, it will require significant resources, and I am proud to do whatever I can to help ensure our student-athletes, coaches, and staff have the support they need to succeed."

A graduate from UA in 1967 with a degree in pharmacy, Coit practiced pharmacy for three years before turning to investing and financial planning. He earned an MBA from Pepperdine and founded Coit Financial Group, a private real estate investment firm that owns and operates apartment complexes in California, Oregon, Washington and Colorado. 

Coit's says his investor portfolio is nearly $5 billion, and that he works with high net worth individuals and privately held foundations.

Coit's $50 million commitment in 2021 allowed UA to establish six new endowed chairs in drug discovery, neurodegenerative diseases and toxicology, along with four endowed professorships. UA said he also committed $5 million in 2024 to expand the work of the Coit Center for Longevity and Neurotherapeutics.