UCLA announced the move on Tuesday, saying Sterling's "divisive and hurtful comments demonstrate that he does not share UCLA's core values."
The NBA on Tuesday banned Sterling for life and fined him $2.5 million for making racist remarks.
UCLA says Sterling recently had pledged the $3 million to support basic kidney research by its Division of Nephrology.
More Sports Headlines
Seahawks do what rest of salary-capped NFL say teams can't do Mariners beat Twins 4-3 in 11 innings Snohomish mixed martial artist returns to her first love AquaSox strand 10, fall 3-2 to Volcanoes Seahawks release DT McDaniel , acquire CB Seisay Benches empty as Royals fall to Blue Jays Rays demote Moore, place Souza on DL with fractured hand Charles scores 29 points, Liberty beat Storm 78-62
Our new comment system is not supported in IE 7. Please upgrade your browser here.