What Will $165 Million Build?

First, the donation by Boone Pickens, which was actually made on Dec. 29 for tax purposes, will wind up being much greater than $165 million. The money was turned back over to Pickens on Dec. 30 for investment in his family of investment opportunities including the very lucrative BP Capital.

Sources I spoke with revealed that money had already made a sizeable return in the millions since being invested. The money not being used at the time will continue to be invested. Pickens is not charging his normal two percent management fee, nor his 20 percent profit bonus, so the money all belongs to Oklahoma State. Pickens is not making a return on any of the money.

An example is that next year only $46 million will be used -- $20 million to start the West end zone (Phase III) of the stadium, another $20 million for land aquisition for the athletic village project, and roughly $6 million in architect's fees. The remainder of the $165 million, or roughly $119 million, will remain in investments earning additional funds.

Here is a schedule and a projected cost on the projects that the donation will be used to accomplish.

** New outdoor practice fields (located on north side of Hall of Fame). Cost: $6 million. Completion: by 2007.

** Phase III, west end zone of Boone Pickens Stadium. Cost: $120 million. Completion: by the 2008 football season.

** New equestrian center. Cost: $4 million. Completion: by 2008.

** Multi-purpose indoor practice complex. Cost: $50 million. Completion: by 2009

** New soccer/track complex. Cost: $30 million. Completion: by 2009.

** New outdoor/indoor tennis facility. Cost: $15 million. Completion: by 2009.

** New baseball stadium. Cost: $30 million. Completion: by 2011.

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