Oklahoma State plans to invest another $28 million with alumnus T. Boone Pickens in its effort to expand on the west end of the football stadium that bears the billionaire's name.
The money will be added to $277 million that Oklahoma State had previously invested with BP Capital Management, Pickens' Dallas-based company. Pickens, the most powerful booster in college athletics, has been waiving fees for the university's investments with his fund. How nice of him!
Under BP Capital's management, the fund reportedly gained $37.6 million in the first quarter of 2006.
Pickens' university scored a victory in court last week, when a judge ruled the university had the right under eminent domain to take the last house and land standing in the way of a $316 million athletic village just north of campus.
There has also been discussion about expanding Pickens' controversial "Gift of a Lifetime" program, which will generate over $250 million in life insurance commitments for the athletic department. That plan has caught the attention of a U.S. Senator.