A small Kentucky liberal arts college says a $250 million gift that was among the largest gifts to higher education in U.S. history has been withdrawn.
Centre College — known for hosting vice presidential debates in 2000 and 2012 — said in a release Monday that the gift from the A. Eugene Brockman Charitable Trust was linked to a "significant capital market event." The statement didn't offer further explanation, but said it put considerable time pressure on the college to structure the gift and the proposed scholarship program.
The college says the two sides ultimately decided they could not finalize the deal and get the required approval in the time available.
Centre President John Roush says the college will continue its pursuit of creating the type of scholarship program envisioned by the gift.