It looks like that morbid T. Boone Pickens-inspired life insurance program designed to raise tons of money for the Oklahoma State athletic department worked out about as well as it deserved to.

Oklahoma State’s unique fundraiser was expected to bring in hundreds of millions of dollars to fund school sports, based on the idea of purchasing $10 million life insurance policies on about two dozen boosters with the university as a beneficiary.

Instead, the so-called “Gift of a Lifetime” program created on the advice of top booster T. Boone Pickens has ended with Oklahoma State having spent $33 million with nothing to show for it.

Well, except for the national attention and ridicule.  You can’t put a price tag on that.

And talk about your poetic justice:  “The school was unwilling to use Pickens’ $165 million donation to the athletic department as collateral on a loan, and that fund eventually took a hit when the economy soured. Pickens eventually had to make another donation just to complete renovations to the football stadium.”


Filed under It's Just Bidness

8 responses to “Priceless

  1. Hogbody Spradlin

    That idea reminds me of the Ghoul Pool at the old County Cork Pub in Buckhead. Throw a buck in the pot. Nominate a really old fart or old hag. If your nominee dies first you win the pot.

    Doesn’t the Bulldog club have a deal where you can jump line on ticket priority by buying a sufficient life insurance policy with the school as beneficiary?


    • Mayor of Dawgtown

      2 friends of mine had a standing annual bet for years on whether or not Bob Hope would be alive for the start of the Bob Hope Desert Classic golf tournament. One of them won that bet 10-12 times as Hope made it to 100.


  2. TennesseeDawg

    Now if you’re a OSU fan, you can support your team and have a rooting interest in someone else dying.


  3. AthensHomerDawg

    “Attorneys produced a paper trail from Holder’s (AD) emails with him writing once that if it wasn’t done soon as Pickens wanted, “I will be in a cave with Bin Laden.” I wonder if Pickens also told Holder what law firm to use when going after his premiums. I’m sure it wasn’t Drinker, Biddle and Reath.


  4. Scott W.

    Just remember though old T. Boone has no interest what so ever in seeing the Cowboys win.


  5. Cojones

    Could we throw T.Boone Picken’s name in the Ghoul Pool?


  6. rogerd

    Sounds like Holder has put up with alot since ole T Bone showed up with cash in hand when he 1st donated to the golf team. Just wonder if OSU had it to do over again, would they ? My bet is they wouldn’t – this T Bone guy is just another entitled, immature child, getting what he wants whenever he wants it, all of his life – throwing tantrums in the cave whenever needed. Some folks never grow up !