STILLWATER — It doesn’t cover the $282 million lost in the market over the last four months, but T. Boone Pickens made official his gift of $63 million to Oklahoma State University Monday afternoon for the completion of the football stadium that bears Pickens’ name.
Previous donations totaling $202 million from Pickens and the OSU golf program had peaked at approximately $407 million in July under management of Pickens’ BP Capital hedge fund, according to OSU Athletics Director Mike Holder. But because of the recent economic downturn, it dipped to $125 million, all of which will be returned to the university later this week.
With the latest donation, the net value of Pickens’ gifts to OSU is $188 million.
Holder said the completion of the football stadium’s west end zone remains on schedule for the start of the 2009 season. Other projects, including the indoor practice facility and the athletic village, have no timetable for completion.