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Around SBN: The Most Dangerous Division in Sports

T. Boone Pickens: Now I'm Getting My Money's Worth

T Boone Pickens hedge fund investments have dropped, but his $200 million investment in Oklahoma State athletics is showing signs of paying off -- at least Boone thinks so. Pickens may not be the collegiate Jerry Jones just yet, but some of the signs point that way. Boone is spending his Saturdays in the OSU locker room leading cheers.

Oklahoma State comes into Austin this Saturday as the unbeaten #7 team in the country, and Boone sure sounds like a happy owner of the Cowboys "franchise."

"That’s the bright spot in the whole scheme of things. I started off saying, ‘We’re going to be competitive.’ But this year, I told (OSU Athletics Director Mike)Holder and (Coach )Gundy, ‘Drop that word competitive. Now the word is win.’ "


T. Boone Pickens has brought a "Win Now" Philosophy for Oklahoma State with his donations. Will his millions lead to a win at all costs philosophy as well?

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Sean Sutton just grabbed his second bottle of the morning.

by BRAGGonUT on Oct 20, 2008 11:29 AM CDT reply actions  

These fuckers always start off strong against us. If we can put them in a headlock early, I think we can win this game easily.

But, if we don’t score early (Like the Missouri Game), I expect this to be one of the more physical teams we’ll play.

by Hippie Killer on Oct 20, 2008 11:56 AM CDT reply actions  

Well, they certainly will not be afraid of us, but they have had a way of snatching defeat from the jaws of victory for a while against us.

Hook ’em!

by uthookem on Oct 20, 2008 12:34 PM CDT reply actions  

Just think! T. Boone wanted to be a Longhorn and we snubbed him.

by BiggUggly on Oct 20, 2008 2:05 PM CDT reply actions  

OSU is slowly turning into that school where the really good recruits that slip through the cracks for whatever reason go.

Dez Bryant has no business there, and yet there he is. I assume that as A&M continues to suck, OSU will poach more and more of their talent away. The more teams that want to step up and divide the talent pool, the better it’ll be for us.

by ChrisApplewhite on Oct 20, 2008 2:11 PM CDT reply actions  

OSU = TCU

by Hippie Killer on Oct 20, 2008 2:50 PM CDT reply actions  

They don’t have enough talent on defense to win. Also, the quality of the coaching staff is inconsistent. Gundy lost a lot of credibility with his strange outbursts.

by Dave Bowman on Oct 20, 2008 3:23 PM CDT reply actions  

Maybe OSU fans should take the OSU=TCU comment as a compliment. As for the Dez Bryant has no business playing in Stillwater comment. Fuck off. It’s really easy to call myself a Texas fan and throw stones at everyone else. Don’t hate on OSU for trying to get better. Keep thinking that OSU will only be able to recruit the fuckups and UT/OU wannabe’s. OSU consistently brings in good players, good enough to beat Texas’ collective ass with that kind of mentality. Yeah Boone Pickens wipes his ass with 100’s so what? What’s your point?

by Ray Finkel on Oct 20, 2008 3:25 PM CDT reply actions  

OSU doesn’t have enough talent on defense to win? Win what? 7 games in a row? OSU hasn’t had a good enough defense to win the Big 12 no. As for this year’s group I guess we’ll just have to see won’t we.

by Ray Finkel on Oct 20, 2008 3:27 PM CDT reply actions  

osu=tcu? huh, now that’s an interesting fucking thought. you must be high on meth to come up with some left-field shit like that.

what makes you think osu doesn’t have the talent on defense to win? was it the fact that osu gave up fewer points to mizzou that ut did…keep in mind osu played the game AT mizzou & not at home.

by Bill Gates on Oct 20, 2008 3:42 PM CDT reply actions  

Mizzou scored zero points that mattered against Texas. What they scored in garbage time is not relevant.

by houstonearler on Oct 20, 2008 4:04 PM CDT reply actions  

OSU does not recruit UT rejects, but only fine and upstanding young men

by Chris Collins on Oct 20, 2008 4:05 PM CDT reply actions  

They all matter garbage time or not. As for Chris Collins damn what a waste of talent. I think we can all agree there. But let’s not get started on the UT code of ethics. Seriously you produce more felons than the fucking mafia. The only reason Texas didn’t take him was because they had another Chris Collins ready to take his place. It damn sure wasn’t because of Mack Brown’s moral compass.

by Ray Finkel on Oct 20, 2008 4:19 PM CDT reply actions  

Not to be insulting here, but how does a person who went to OSU get that rich? Was it an accident? Did he go rob a country? Or did he pull a Jed Clampitt? Just curious.

Without a pass rush no team is really going to slow UT down and, according to heresay, OSU has none. Our running game is going to continue to get on track as we incorporate back in our injured RB’s.

Also the OSU O is probably overrated. Your QB has bit of a long release that is probably not conducive to a reliable short passing game and your running game is probably not as good as advertised. When you can only put up 30 or so points on BU when you had the ball all game against them does not indicate a great O. I think the OSU O will struggle to consistently move the ball against us.

And also your passing game seems to dependent on Bryant. Probably at least one of our corners is good enough to match up with him. So all that is not good for OSU fans.

by steven on Oct 20, 2008 4:21 PM CDT reply actions  

My thought here is that the Big 12 is overrated. It’s Texas, OU and everyone else. Mizzou is not that good. OSU wants to hang their cowboy hat on that win, but really we’re the first good team they’ve played. I predict they will crumble in humiliating fashion again as they historically have. They finish with 3 or more losses.

by Dave Bowman on Oct 20, 2008 5:07 PM CDT reply actions  

“It damn sure wasn’t because of Mack Brown’s moral compass.”

Ray you seem like a reasonable person so don’t show your backside while trying to make a point.

by 8straight on Oct 20, 2008 5:28 PM CDT reply actions  

“Dez Bryant has no business there, and yet there he is.”

Sure he does. He’s a very appropriate heir to the Dexter Manley legacy at OSU.

by EyesOfTX on Oct 20, 2008 8:11 PM CDT reply actions  

ut fans commenting on osu’s moral code of ethics?!?! holy shit, now i’ve heard it all…LMFAO! take care guys, i miss hearing you all cheer for me.

love,

Ramance Taylor

by Ramance Taylor on Oct 20, 2008 8:48 PM CDT reply actions  

I think Missouri and Oklahoma State are legit top 15 teams and I think the year will bare that out. Oklahoma State is perfectly capable of beating UT if UT doesn’t play at the high standard that it has. There’s plenty of talent in the state of Texas to supply the entire Big 12 South with enough talent to compete at a very high level.

by LonghornScott on Oct 20, 2008 9:06 PM CDT reply actions  

I hav a colleg degre.

by Dexter Manley on Oct 20, 2008 9:12 PM CDT reply actions  

Hey Steven very keen insight. Just wonder where you get your information since OSU has been on TV all of twice this year. What does Matthew Mccona-gay have a radio show in Austin now days? Look we all know the University of Texas is a far superior institution and none of the players on OSU’s roster were offered by Texas and Zac Robinson’s release is far too long so obviously he can’t hold McCoy’s jock and UT’s corners can run circles around Dez Bryant and Boone Pickens although a multi billionaire is obviously a dumbass and Gundy is a golf prick pussy. Yadda, yadda, yadda. Does Texas have great athletes, yes. Do they have a really really good college quarterback definitely. They are number one for a reason. Will they be the better team on Saturday, who knows. That’s why they play the game right.

by Ray Finkel on Oct 21, 2008 8:55 AM CDT reply actions  

Hey, Okie Pokie, don’t be so sensitive. Like I said no disrespect intended. Just asking an honest question and giving my opinion, which probably isn’t worth much to begin. And yes, it is entirely reasonable to be a billionare and still be a dumbass. From the looks of it it may just be a damn requirement to be one. Cuban and Dancing with the Stars should be enough proof. Or how about Jerrah and his over stretched and skeletor plastic surgery? Or Ross and his goofball ears, politics and V.P. choices?

And I only mentioned Robinson and his release cause I figure that is one of the ways to consistently drive on Texas this year. I think a team could dink and dunk or nickel and dime our D all the way to the red zone if that O is highly efficient at doing that. I just do not think that your O and your QB with that release will be able to consistently do so.

Hell, I could be wrong. Just an opinion, brotha. If you look, O’s that have a really good short game tend to have QB’s with compact releases. Robinson’s seems to be better suited for mid-range and down field passes. Could be why the OSU O is reputed to be a big play O? Anyway, I don’t believe that a big play O the caliber of OSU’s is going to be consistently successful against our D. Just an opinion here. Not trying to hate on the Okie Pokies. Okay Ray, Ray.

by steven on Oct 21, 2008 9:14 AM CDT reply actions  

mmmmmmmm … chicken.

by Bobby Reid on Oct 21, 2008 9:27 AM CDT reply actions  

Ever since Dan kept the laces in on me back in ‘83, I’ve been a little short tempered. OSU is a good school man. I’m proud of my alma mater what can I say. I’ve had my doubts all year about this team so I get what your saying. I was super pumped when they beat Mizzou and I think they are more than capable of beating UT. The offense is far from perfect and the defense is oppurtunistic and plays hard. Texas well they are Texas. Its kind of what you expect every year you know. They are just really damn good what can you say? Hey I respect your opinions Texas is your squad and and you have every right to think OSU will be nothing more than a speedbump to a NC. But you know I don’t know what it is but I just really believe that with what has happened in this series over the last several years OSU is just kind of due. Maybe I’m wrong. What the hell do I know I’m just an Okie State grad right.

by Ray Finkel on Oct 21, 2008 9:39 AM CDT reply actions  

Umm, throwing 200 mil on a program just so that it can move up one glorified spot from 4th to 3rd in the B12 South is not the mark of a so called “dumbass”? Talk about a big fish in a small pond complex. Just imagine how many starving Ethiopians he could have fed for nothing more than what amounts to your program being better than Tech on the fooball field and, on top of it all, not even that is guaranteed for all that dough and all those starving Ethiopian children.

If you ask me, the old geezer should be shot and all his money should be taken away for a move like that. If you Okie Pokies are proud of surpassing Tech at the cost of millions upon millions of young Ethiopians lives, then so be it. But you all must know if you all have some semblance of humanity up in Stillwater that this does not reflect well at all on OSU and you Okie Pokies. I just wonder how you Okie Pokie’s deal with all the guilt of the matter, especially considering that you all still pretty much suck donkey balls on the football field.

by steven on Oct 21, 2008 9:47 AM CDT reply actions  

jimminy christmas steven…were you just seeing how many times you could say “okie pokies” in one paragraph. fuck me! do yourself a favor & pick up a goddam thesarous.

by Bill Gates on Oct 21, 2008 10:00 AM CDT reply actions  

Dear Okie Pokies,

You’ll soon learn to disregard the verbally untethered Barkers’ mascot that is steven, just as fans of OU and Mizzou had to do.

Just hope he doesn’t find your board.

by Vasherized on Oct 21, 2008 10:47 AM CDT reply actions  

I am a BILLIONAIRE. I have given more money to more causes than fucking Unicef and what do I get to show for it? Some douchebag shorthorn fan who thinks Muschamp should cover Pettigrew with a Defensive End telling me how to spend my money! If I want to burn every last dollar on coke and strippers I will! In the meantime check out my website and you’ll see where my money goes. http://www.boonepickens.com/philanthropy/default.asp
Also last time I checked UT spent about 800 trillion bucks on a fuckin TV. Do you know how many Vizio’s you could have bought those entertainment starved Ethiopians for the price of your “Godzillatron”? From what I’ve seen 3rd or 4th place in the south isn’t too bad of a place to be these days. I’ll take it. Also Ray Finkel is a saint and a damn fine American.

by T. Boone on Oct 21, 2008 10:50 AM CDT reply actions  

stephen is not affiliated with this site. The only reason we keep him around is because he’s Scipio’s younger brother.

by HenryJames on Oct 21, 2008 10:58 AM CDT reply actions  

“There’s plenty of talent in the state of Texas to supply the entire Big 12 South with enough talent to compete at a very high level.”

(cough) “. . . North . . .” (cough)

by Bo Pelini on Oct 21, 2008 11:04 AM CDT reply actions  

You’ll soon learn to disregard the verbally untethered Barkers’ mascot that is steven, just as fans of OU and Mizzou had to do.

Just a warning, Ray Ray, so far this season, history has shown you diregard the village idiot of the Bark, known affectionately as steven, at your own peril. Right NateHeupel and GC? If you have the desire and will power, just check up on it or just visit the Atomic Teeth, where there is even an eulogy put up on my dead eye accuracy.

So far this season, this steven dude has very, very strong medicine. Not a good idea to go face to face with him. You risk banishment into an unhappy silence if you are foolish enough to do so. A fate so many of my prior foes have suffered this season.

by steven on Oct 21, 2008 11:05 AM CDT reply actions  

“stephen is not affiliated with this site. The only reason we keep him around is because he’s Scipio’s younger brother.”

Not a coincidence, then, that neither of them posts during visiting hours?

by prison guard on Oct 21, 2008 11:12 AM CDT reply actions  

“was it the fact that osu gave up fewer points to mizzou that ut did…keep in mind osu played the game AT mizzou & not at home.”

Try actually watching the games pal.

by Nordberg on Oct 21, 2008 11:28 AM CDT reply actions  

You heard here first folks. OSU will lose badly in Austin because they will be haunted by the ghosts of all those starving and dead children in Ethiopia. If I was an OSU fan, I, personally, would not even attempt to be anywhere near Austin out of fear and trepidation.

Hey, Ray Ray and all you other Okie Pokies out there, how does it feel to know you all will end up in hell, with certainty, just so that you all could say for a year or so that you all were better than Tech? While T. Booney and you all are burning and being incinerated in the fires of eternal damnation, with the ghosts of dead and starving Ethiopian kids surrounding and haunting you all, hey, at least you all will have the consolation of having a poster on your walls that reads, “We were better than Tech for a year or so”. Talk about a shat deal. Thank God, I’m not stuck being an Okie Pokie.

by steven on Oct 21, 2008 11:28 AM CDT reply actions  

Pickens was also very philanthropic in trying to take over Phillips 66 in the late 80s (didn’t happen, but made him a shitpile of money and put a shitpile of people out of work) and funding the Swiftboat douches in 2004.

by ponderos on Oct 21, 2008 11:43 AM CDT reply actions  

You Okie Pokies might as well refer to your hero, T. Boone as T-Bone, cause, rest assured, as surely as the Horns are going put a beat down on your $ store of a fooball team, T. Boone is going to be grilled about as much as a well done T-Bone, when Heaven and Hell get through with him. And, no, all the wind power he can buy ain’t gonna help him a bit in this matter. The spirits of poor, little Ethiopian children everywhere will see to that.

Like I said above, I hope that poster that reads, “We were better than Tech for a year or so”, was worth it for him.

by steven on Oct 21, 2008 12:21 PM CDT reply actions  

osu = aggie lite. Kinda like a&m, only without the “cool” traditions and whatnot.

by ponderos on Oct 21, 2008 12:22 PM CDT reply actions  

You Okie Pokies might as well refer to your hero, T. Boone as T-Bone, cause, rest assured, as surely as the Horns are going put a beat down on your $ store of a fooball team, T. Boone is going to be grilled about as much as a well done T-Bone

Zing!

by BrickHorn on Oct 21, 2008 12:25 PM CDT reply actions  

From what I’ve seen 3rd or 4th place in the south isn’t too bad of a place to be these days. I’ll take it.

Aside from senile and old geezer Okie Pokies, I think the rest of us would want more than “isn’t too bad” for 200 mil. Maybe that’s what generations of inbreeding does to a group of people? Like I said, with business sense and cockeyed expectations like that, how the hell does an Okie Pokie end up with all that money. The mfuker must have just gone and plunder some poor, unsuspecting nation or something, cause from the looks of it, he sure as hell didn’t earn it.

Also Ray Finkel is a saint and a damn fine American.

I’m sure you are, but you’re still an eternally damned Okie Pokie, so that can’t be too good and it sure ain’t saying much.

by steven on Oct 21, 2008 12:37 PM CDT reply actions  

“You Okie Pokies might as well refer to your hero, T. Boone as T-Bone”

No. No T-Bone. Neil Watkins from accounting is T-Bone.

by George Costanza on Oct 21, 2008 12:40 PM CDT reply actions  

Fuck…You…Steven.

by Ray Finkel on Oct 21, 2008 12:55 PM CDT reply actions  

I like boys.

by steven on Oct 21, 2008 12:56 PM CDT reply actions  

Hey, now, no reason to be hating on the messenger for the message. Never a reason to get uncultured and uncivil because the truth does not sit well with some of you, but then what can one expect from a bunch of inbred, trailer trash Okie Pokies. Get ready for your beat down on the fooball field. Okie dokie, Okie Pokies.

by steven on Oct 21, 2008 1:53 PM CDT reply actions  

I don’t know what I’m talking about. I’m just insecure. I’ve never had sex with a woman and I have a little unit. I compensate for this by driving a truck with a 4 inch lift kit and a “No Fear” sticker in the back glass. I have a longhorn tattoo on one arm and barbed wire on the other. I never set foot on UT’s campus I just like to associate myself vicariously with the university and play Tony Toughguy on internet message boards. I insult people because I was a fat little kid. I make fun of the things I don’t understand and I get off on saying the word Okie. I’m fucking pathetic.

by steven's alternate personality on Oct 21, 2008 2:35 PM CDT reply actions  

i’m glad my alternate personality came out & said what i’ve been feeling & thinking for a longtime. all of the things you talked about are 100% true. one thing that wasn’t mentioned is the fact that i’m a homosexual. there, i said it…& i feel so much better now. i love other men & i love the longhorns.

by steven on Oct 21, 2008 3:09 PM CDT reply actions  

Well, if all the above is true and accurate, I guess that would make me another one of them loser Okie Pokies. God Dammit, is there a worse f*cking fate than that?

by steven's true personality on Oct 21, 2008 3:11 PM CDT reply actions  

I make fun of the things I don’t understand and I get off on saying the word Okie. I’m fucking pathetic.

Is this you, NateHeupel? I figured you’d be back in a while after you recovered from your beat down, but I thought that you would, at least, have the balls and decency to come back as yourself and not as my alter ego. I guess I expected too much from an Okie. Lesson learned.

Signed,

the real steven

by steven on Oct 21, 2008 3:30 PM CDT reply actions  

I really like what you’ve done with the place, steven.

by Nordberg on Oct 21, 2008 3:38 PM CDT reply actions  

Ray Finkel is going to kill himself if you call him okie pokie one more time. If its one thing Oklahoman’s can’t stand its being called an okie pokie. Ga’ damn you Steven.

by Okie Pokie on Oct 21, 2008 3:39 PM CDT reply actions  

Somebody pissed on your rug, dude?

by Donny Kerabatsos on Oct 21, 2008 3:43 PM CDT reply actions  

Hey, look at George. He is giving it to T-bone.

by Art Vandelay on Oct 21, 2008 3:59 PM CDT reply actions  

I’m thinking the steven situation is reaching the point that it needs to be addressed.

by Minnesotahorn on Oct 21, 2008 4:02 PM CDT reply actions  

God Dammit, is there a worse f*cking fate than that?

Okay, got the message, one last time then. I can’t help myself. I’d rather be a mutated, four legged frog lost in the desert who couldn’t rrhhuhhbit, than an Okie Pokie. And I ain’t joking about that.

by steven on Oct 21, 2008 4:04 PM CDT reply actions  

I quit.

by Clay Aiken on Oct 21, 2008 4:08 PM CDT reply actions  

me too

by Ray Finkel on Oct 21, 2008 4:08 PM CDT reply actions  

“From the Greek name Óôåöáíïò (Stephanos) meaning “crown”. Saint Steven was an early Christian martyr who was stoned to death, as told in Acts in the New Testament.

by Dictionary on Oct 21, 2008 4:14 PM CDT reply actions  

Fuck it, dude. Let’s bowl.

by Walter Sobchak on Oct 21, 2008 4:26 PM CDT reply actions  

Larry, sweety! That mang is here!

by Pilar on Oct 21, 2008 5:10 PM CDT reply actions  

Me and my man orpheus gonna run train on steven, unless he shuts his mouth, sits on the couch and just watches Brief Encounter.

by Redfoot on Oct 21, 2008 6:32 PM CDT reply actions  

steven is my hero. the 2 of us are the best longhorn’s ever conceived by man. we make the ut nation proud.

by Ramonce Taylor on Oct 22, 2008 3:11 PM CDT reply actions  

http://www.nytimes.com/2006/02/24/national/24pickens.html

 

 
STILLWATER — “It can’t get any worse,” that’s what one Oklahoma State Regent said Tuesday morning, after getting another dose of bad news regarding funds earmarked for OSU athletics.

Yesterday all indications were that OSU Regents were reportedly told Friday afternoon that a large portion of the Boone Pickens donation in the BP Capital hedge fund was virtually wiped out by margin calls on the funds investments in the third quarter.

Today the news was a little more grim, as officials were told that actually, the entire $ 165 million donation, and the earnings, which once inflated the gift to over $ 300 million, had recently been eliminated by margin calls due to drastically falling oil prices.

As of Monday OSU’s gift had flat-lined completely and was declared ‘gone.’

Ironically Pickens will become both the hero and the goat in the drama of high stakes energy gambling, and of fortunes won, lost and regained. Pickens made his historic gift in 2005, declaring “I’m tired of losing,” when asked why he donated the huge amount to OSU athletics.

But the gift came with a stipulation, as Pickens insisted that he and appointee Mike Holder, who he later named Athletics Director, be given total authority over how the funds were to be spent, and by whom.

And the move appeared to be a stroke of genius as oil prices soared in a post Katrina economic climate, swelling the initial gift to over $ 300 million. That was before things began to turn in 2007, as international demand for oil failed to meet projections, causing the fund to come to a sudden standstill, and then dropping on mistakes made, and repeated by fund managers, managed by Pickens.

As oil prices started to slide in early 2008 Pickens increasingly found himself on the wrong side of the volatile oil futures game, betting ‘short’ as prices rose to $ 100, and then long as they began to fall, wiping out much of the two year gain in just four months, and causing AD Holder to announce that OSU’s future ‘Athletic Village’ facility expansion had been put on hold in July.

Now the project looks like it will be shelved, as O-State Regents try to just keep their heads above water while swimming in debt.

The school had borrowed almost all funds used in the celebrated stadium expansion, using the almost $ 300 million balance in BP Capital as collateral.

Some OSU Regents are livid that their pragmatic warnings were not heeded when the fund was flush with cash.

Pickens and Holder apparently both resisted pleas by some OSU Regents to bank a good deal of the balance out of the fund when it exceeded $ 300 million, just 14 months ago. Instead both endorsed a plan of borrowing almost $ 200 million needed to expand and renovate Boone Pickens Stadium on the Stillwater campus.

Ironically, the stadium had been re-named after Pickens following his generous donation in 2005. But now that stadium sits as a drain of over $ 1 million per month in interest payments alone, on an already strapped athletic budget, which annually ranks between 8th and 9th in the Big XII conference.

Today, the problem is how to fund the surprise interest that is expected to top $ 13 million annually, when just months ago the school was going full steam ahead on an aggressive expansion of facilities that it believed were already paid for.

by ATXHornsFan on Oct 24, 2008 2:17 PM CDT reply actions  

STILLWATER — “It can’t get any worse,” that’s what one Oklahoma State Regent said Tuesday morning, after getting another dose of bad news regarding funds earmarked for OSU athletics.

Yesterday all indications were that OSU Regents were reportedly told Friday afternoon that a large portion of the Boone Pickens donation in the BP Capital hedge fund was virtually wiped out by margin calls on the funds investments in the third quarter.

Today the news was a little more grim, as officials were told that actually, the entire $ 165 million donation, and the earnings, which once inflated the gift to over $ 300 million, had recently been eliminated by margin calls due to drastically falling oil prices.

As of Monday OSU’s gift had flat-lined completely and was declared ‘gone.’

Ironically Pickens will become both the hero and the goat in the drama of high stakes energy gambling, and of fortunes won, lost and regained. Pickens made his historic gift in 2005, declaring “I’m tired of losing,” when asked why he donated the huge amount to OSU athletics.

But the gift came with a stipulation, as Pickens insisted that he and appointee Mike Holder, who he later named Athletics Director, be given total authority over how the funds were to be spent, and by whom.

And the move appeared to be a stroke of genius as oil prices soared in a post Katrina economic climate, swelling the initial gift to over $ 300 million. That was before things began to turn in 2007, as international demand for oil failed to meet projections, causing the fund to come to a sudden standstill, and then dropping on mistakes made, and repeated by fund managers, managed by Pickens.

As oil prices started to slide in early 2008 Pickens increasingly found himself on the wrong side of the volatile oil futures game, betting ‘short’ as prices rose to $ 100, and then long as they began to fall, wiping out much of the two year gain in just four months, and causing AD Holder to announce that OSU’s future ‘Athletic Village’ facility expansion had been put on hold in July.

Now the project looks like it will be shelved, as O-State Regents try to just keep their heads above water while swimming in debt.

The school had borrowed almost all funds used in the celebrated stadium expansion, using the almost $ 300 million balance in BP Capital as collateral.

Some OSU Regents are livid that their pragmatic warnings were not heeded when the fund was flush with cash.

Pickens and Holder apparently both resisted pleas by some OSU Regents to bank a good deal of the balance out of the fund when it exceeded $ 300 million, just 14 months ago. Instead both endorsed a plan of borrowing almost $ 200 million needed to expand and renovate Boone Pickens Stadium on the Stillwater campus.

Ironically, the stadium had been re-named after Pickens following his generous donation in 2005. But now that stadium sits as a drain of over $ 1 million per month in interest payments alone, on an already strapped athletic budget, which annually ranks between 8th and 9th in the Big XII conference.

Today, the problem is how to fund the surprise interest that is expected to top $ 13 million annually, when just months ago the school was going full steam ahead on an aggressive expansion of facilities that it believed were already paid for.

by ATXHornsFan on Oct 24, 2008 2:22 PM CDT reply actions  

fucking aggies.

by ponderos on Oct 24, 2008 2:31 PM CDT reply actions  

I agree with ponderos

by ATXHornsFan on Oct 24, 2008 2:47 PM CDT reply actions  

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