On November 13, 2004 the College of Business Administration was renamed the William S. Spears School of Business following the then largest gift in university history. "My education at Oklahoma State transformed and inspired me to pursue a successful career in business and eventually establish my own company. I have been truly blessed, and this heartfelt gift is a way I can give back to the university that means so much to me."

“Dr. Spears’ support 20 years ago has certainly been a worthwhile investment in the future of the business school and laid the foundation for the excellence of our programs and the opportunities afforded to our students in preparing them as the next generation of business leaders,” said Dr. James Payne, Spears Business dean. “On behalf of the students, faculty and staff, I want to say thank you.”