This reminds me of when MIT was putting student hacks, like the fire truck on the dome, on the front of their promotional material while prosecuting those same students for exploring unlocked areas of the campus.
I'm an engineer, I went to a school, I also played football and was in a fraternity. I think my school knows what they're doing. If I was to give them money in bequest, I'd either let them deal with it or I'd actually point it at the athletic department.
Actually now that I think of it I'd just put a $1M donation on game socks. All student athletes get great new socks once a week.
That and maybe something that encourages the good TAs to all be at the athletic complex.
My point is, based on a photo of me when I'm 80 and my career choice, you'd have no idea what I'd want to do with my money.