Thanks to a large donation from Mark Cuban, the Indiana University (IU) basketball team will gain a significant technological advantage.

The IU alum and owner of the NBA's Dallas Mavericks will donate $5 million to his alma mater to build a technology center that will feature 3-D cameras and virtual reality.

According to the Associated Press, Cuban says some of these features are not commercially accessible.

"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," IU President Michael A. McRobbie said in a statement announcing the donation. "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."

Forbes estimates Cuban's net worth to be $3 billion, his wealth coming from a massive online media sale he made to Yahoo, which he and his associate parlayed into ownership of the Mavericks.

Considered one of the more enthusiastic and involved owners in major U.S. sports, Cuban told the AP he had the idea to grant the IU basketball program with such sophisticated technology when he was exploring it for the Mavericks.

"As we were going through the process with 3-D and virtual reality, [IU athletic director] Fred [Glass] was smart and said 'why not do this just with the Mavericks?'" he said. "Why not do this with Indiana University and give them a competitive advantage?"

The Mark Cuban Center for Sports Media and Technology will be fully operational in 2017, when renovations planned for Assembly Hall are expected to be completed.

"Mark Cuban's name is synonymous with innovation, technology, media and sports," Glass said in the school's statement. "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."