Which is the weird part? That Pitt's biggest athletic donation ever is $20 million, or that they named the head coaching position? If I recall correctly, GT Athletics has set up endowments for some coaching positions, and is actively advertising for people to endow other coaching positions. (I looked it up and they are actively advertising for a $7.5 million football head coach endowment, which isn't enough to perpetually pay for the HC.
http://atfund.gatech.edu/head-coaching-and-position-endowments)
I guess it will be weird if they try to get TV broadcasts to highlight the donor's name. If they only put that on the Pitt athletics boosters website, it won't be really different than what I have seen for athletes on the AT Fund or GT Athletics websites before. I have seen a list of athletes and the endowments that are designated as paying for their scholarships.