Univ. of Oklahoma President David Boren yesterday "emphatically denied a report" that he has postponed renovations to Gaylord Family-Oklahoma Memorial Stadium, but he did admit "falling oil and gas prices have hurt fundraising efforts for all OU projects," according to Jason Kersey of the OKLAHOMAN. Boren said, "When you have people lose half their net worth over the period of two, three weeks, and they’re donors to the university and they want to give to the university, it hurts all fundraising" (OKLAHOMAN, 1/29). Boren added the stadium project was "shovel ready." In Tulsa, Eric Bailey notes the OU Board of Regents in June approved the $370M renovation project, which includes "enclosing the south end zone to form a continuous bowl, improving amenities and upgrades to enhance fan environment," as well as redevelopment of the Barry Switzer Center. No "state-appropriated funds or student tuition funds would be used," meaning most funding would come from private donations (TULSA WORLD, 1/29). SOONERSCOOP.com's Carey Murdock in the original report cited sources as saying the delay of the renovations were "market related." That has "mostly to do with the current economic climate where oil prices have fallen drastically and stockpiles have built up to record highs in the U.S." Another source said that the "current climate" around the football program makes stadium expansion "'unrealistic' at this point in time." OU is coming off one of its "most disappointing seasons" in coach Bob Stoops' 16-year tenure, and the school's fundraising arm "has had difficulty securing financial commitments for new stadium suites which were to be a part of the new renovations." But sources said that performance on the field "has very little to do with this postponement" (SOONERSCOOP.com, 1/28).
