Oral Roberts University agreed to undergo major restructuring changes with the acceptance of a multi-million dollar donation.
Oklahoma City businessman and Mardel President Mart Green presented the idea of restructuring the university and donating $62 million at a board meeting on Monday.
He said he wasn't expecting the board to vote and accept his proposal.
"After hearing the proposal this morning, and then we had time for question and answer this afternoon, the board voted unanimously to accept and receive Green's proposal," said George Pearsons, ORU's board of regents chairman.
Part of the restructuring plan includes replacing ORU's current board of regents with a board of trustees. Green will chair the board and Oral Roberts will be a trustee for the rest of his life. Three of the current regents will stay on as well.
Former ORU president Richard Roberts did attend today's board meeting. Roberts has been named in a lawsuit, brought on by former professors, for misappropriation of funds.