Remember T. Boone Pickens $200 million donation to OSU? Lewis Field, "The House that Boone Built?" He left the donation in the hedge fund, borrowed money on it, and bet on higher oil prices. That bet went bust, and so now is the donation.
OSU borrowed money on the hedge fund asset, and now they are on the hook for $300 million that went broke with Boone.
Here's the story, on this college football afternoon!