The University of Minnesota will receive a $25 million donation from Land O’Lakes, $21 million of which will go to Gophers athletics, the school announced Tuesday.

Of that, $15 million will go toward construction of 60,000-square-foot Center for Excellence in the new Athletics Village. Land O’Lakes will receive naming rights to the center, which will house academic, nutrition and leadership development programs for university students and student-athletes.

The Center for Excellence is expected to open in fall 2016.

A news conference is scheduled for 3 p.m. Wednesday to discuss the gift, one of the largest corporate donations in university history.

“Meaningful partnerships with Minnesota businesses are vital to the success of our students and the state’s economic future,” University President Eric Kaler said in a statement. “The 40-plus-year partnership between the U and Land O’Lakes is one in which we take great pride. This new commitment and innovative model of support will advance our teaching, student support, athletic programs and research mission, and will further position the U as a continued leader in addressing society’s pressing challenges.”

The $25 million will be given to the university from 2015 through 2024.

Land O’Lakes is based in Arden Hills.