Indiana University today announced a major donation from alumnus Mark Cuban designed to provide cutting-edge media technology to IU students and coaches.

The 1981 IU graduate is making a $5 million donation for a technology center that will be a part of Indiana's renovated Assembly Hall and, IU said, will be the first of its kind at the university level in the United States.

The Mark Cuban Center for Sports Media and Technology is the name of the facility.

The center will be housed in the west side of Assembly Hall when Assembly Hall is renovated.

The center could open as early as the fall of 2016, but the spring of 2017 is also a possibility. The Cuban Center is more about programs and technology than being a physical structure, IU athletic director Fred Glass said.

IU will be the first university in the nation with this technology, IU president Michael McRobbie said.

Indiana will be the national leader in 3-D broadcast and replay, virtual reality and 3-D virtual studio technologies, IU said in the release.

"We are extremely grateful to Mark Cuban for his remarkable generosity and his commitment to ensuring that Indiana University remains at the forefront of preparing our graduates for highly successful and rewarding careers," McRobbie said.

"This pioneering new center will provide IU students across the university with unprecedented access to the newest and most leading-edge media tools currently available in the technological marketplace. Furthermore, it will transform the collegiate athletics experience for our student-athletes as well as the many Hoosiers fans here in Indiana and around the world."

The 360-degree style replays - "freeD" from Replay Technologies - will be used in Assembly Hall for basketball games and in Memorial Stadium for football.

The technology also will be used for recruiting videos, IU said, as well as be available to coaches.

"I am so excited to work with Indiana University to bring us into the future of sports media, broadcasting and analytics," Cuban said.

Cuban has a net worth estimated around $3 billion by Forbes.

"Whatever I give to IU, it will only be a fraction of what Indiana University gave to me," Cuban said.

Cuban was his normal casual self in making the announcement at the Henke Hall of Champions, sporting blue jeans while wearing an Indiana hat.

Cuban said he didn't even want his name on the facility, joking that putting your name on something is what you do "when you're about to die and you want people to remember you."

"Mark Cuban's name is synonymous with innovation, technology, media and sports," Glass said. "I cannot imagine a person better suited to be the namesake for, and godfather of, our Center for Sports Media and Technology. His extremely generous gift is transformative and will make Indiana University Athletics America's elite institution in this field."

This is another major donation to a structure that is currently being renovated.

Philanthropist Cindy Simon Skjodt donated $40 million for the renovation of Assembly Hall, a project which is under way and is expected to be complete in 2016 and in time for the start of the 2016-17 basketball season.

The building will be renamed Simon Skjodt (pronounced Scott) Assembly Hall.

Bloomington attorney Ken Nunn has donated $2 million for the construction of the Ken Nunn Champions Plaza on the south entry way of Assembly Hall.

Cuban is a visible owner of the Dallas Mavericks, has made a host of successful business deals and also has a reality show called "Shark Tank," in which individuals pitch business ideas to potential investors.

Cuban jumped into the financial stratosphere in 1999 when he and fellow IU alum Todd Wagner sold Broadcast.com to Yahoo! for $5.7 billion.