Oklahoma State
But now the fund has dropped so low amid the national economic downturn that
Pickens himself has lost “well in excess of $1 billion” as oil and natural gas prices have plummeted, said Jay Rosser, Pickens’ spokesman.
In 2007, Oklahoma State athletic director Mike Holder trumpeted growth in the school’s athletic facilities construction fund. Pickens’ generous contribution, together with other donations and market appreciation, had allowed the fund to mushroom to $288 million.
OSU spokesman Gary Shutt on Wednesday declined to say how much is left.
“Construction on facilities in the athletic village area will begin when the economic climate improves,” Shutt said. “Like all investors in these uncertain times, we are exploring all options as we consider our future plans.”
Shutt said he couldn’t specify what those options are.