JimBob
10-25-2008, 05:15 PM
Pickens promises announcement Monday
By BILL HAISTEN World Sports Writer
10/25/2008 3:09 PM
Last Modified: 10/25/2008 4:18 PM
AUSTIN, Texas -- During the first quarter of Saturday's Oklahoma State-Texas football showdown, Boone Pickens announced that he will unveil a significant donation to OSU on Monday.
Pickens first divulged his plan while being interviewed by ABC's Stacey Dales. Moments later, interviewed live for the Cowboy Radio Network, Pickens said, "I will announce on Monday another major gift. There's no way I will ever let OSU come out short."
Pickens acknowledged that the value of the OSU facilities fund, managed by his Dallas-based BP Capital, had dropped 60 percent since the summer. The facilities fund is earmarked for the development of OSU's proposed Athletic Village, which would include the construction of an indoor practice facility and a baseball stadium.
In December 2005, it was Pickens' $165 million donation that served as the fund's foundation.
Oklahoma State University officials had said on Friday that there is no timeline for resuming construction on the campus athletic village, which includes plans for multiple practice facilities and sports fields.
OSU spokesman Gary Shutt denied rumors the project has been permanently shelved.
Construction work was put on hold as a worsening economy began taking its toll on the hedge funds in which OSU invested much of its athletic donations.
OSU Athletic Director Mike Holder previously stated that construction of the athletic village would begin when OSU's portion of the fund went over $400 million.
The Tulsa World interviewed Pickens at halftime and he confirmed the reports. Watch tulsaworld.com for further updates.
By BILL HAISTEN World Sports Writer
10/25/2008 3:09 PM
Last Modified: 10/25/2008 4:18 PM
AUSTIN, Texas -- During the first quarter of Saturday's Oklahoma State-Texas football showdown, Boone Pickens announced that he will unveil a significant donation to OSU on Monday.
Pickens first divulged his plan while being interviewed by ABC's Stacey Dales. Moments later, interviewed live for the Cowboy Radio Network, Pickens said, "I will announce on Monday another major gift. There's no way I will ever let OSU come out short."
Pickens acknowledged that the value of the OSU facilities fund, managed by his Dallas-based BP Capital, had dropped 60 percent since the summer. The facilities fund is earmarked for the development of OSU's proposed Athletic Village, which would include the construction of an indoor practice facility and a baseball stadium.
In December 2005, it was Pickens' $165 million donation that served as the fund's foundation.
Oklahoma State University officials had said on Friday that there is no timeline for resuming construction on the campus athletic village, which includes plans for multiple practice facilities and sports fields.
OSU spokesman Gary Shutt denied rumors the project has been permanently shelved.
Construction work was put on hold as a worsening economy began taking its toll on the hedge funds in which OSU invested much of its athletic donations.
OSU Athletic Director Mike Holder previously stated that construction of the athletic village would begin when OSU's portion of the fund went over $400 million.
The Tulsa World interviewed Pickens at halftime and he confirmed the reports. Watch tulsaworld.com for further updates.