Documenting Another Huge Lie by OU President David Boren

For documentation of the huge debt of $137 million to pay for the 2002 stadium expansion, go here and click on the first three scans on the 2nd row. On the third scan, see the sum at the bottom of column for total debt service:

http://www.facebook.com/album.php?aid=4487&id=567381284&l=760d5a7942

Through 2031, OU will be paying about $5 million annually for the 2002 stadium expansion.

The fact that the Gaylords only gave $12 million to complete the 2002 stadium expansion is confirmed by this article in The Oklahoman, which is published by the Gaylords:

"Gift completes OU stadium expansion project," The Oklahoman, September 6, 2002

The Oklahoman was called The Daily Oklahoman from its founding and throughout the 20th century.

Then in January 1999, the Columbia Journalism Review published an article calling it the worst newspaper in America. After that the publishers, apparently trying to escape this reputation, changed its name to The Oklahoman. Go here for the article:

http://www.entrepreneur.com/tradejournals/article/53654091.html

Observe that on page two the article reports that Boren, as a U.S. Senator, had sponsored a "one-of-a-kind multi-million dollar tax break" that would benefit only a few wealthy investors, including publisher Ed Gaylord.

When the billionaire Gaylords made their $12-million dollar donation, they were just tossing some spare change back in the direction of their puppet, David Boren.

MUSKOGEE PHOENIX ARTICLE

See my guest commentary in The Muskogee Phoenix for documentation of more lies by David Boren:

http://www.muskogeephoenix.com/archivesearch/local_story_289220614.html

Category:

Education

Tags:

• david
• boren
• university
• of
• oklahoma
• liars
• corruption
• college
• football

[bkgmon]

In the interest of full disclosure, Mr. Wright, will you please affirm that your funding for these videos is not paid for by the taxpayers of the United States? And, in order to provide integrity to the numbers you provide about OU expenditures, will you please assure your viewers that not one cent of your exposure comes from taxpayers of the state of Oklahoma, or the government of the United States? Always better to be clear about these things, right?

[MichaelPhillipWright]

You Boren-lovers are such presumptuous jerks. Here you are, a coward who won't even disclose your name, and you are demanding that I disclose matters to you that are really none of your business. Intelligent readers may look at my text box for a link to documentation proving that the 2002 stadium expansion was financed with borrowed money in the form of a bond issue. The Boren-lover bkgmon is obviously so stupid that he doesn't even know what a bond issue is.

[luddite333]

Glad someone is researching these sport pork projects. I have lots about that subject at my channel. Stop by if you are interested.

[MichaelPhillipWright]

OK thanks. I'll do that. In the meantime, just for laughs, check out the video "Texas Comforts Oklahoma." To make sense out of it, you first have to see "Crying Sorority Girl."

[MrDePace]

It actually says "whose generosity made this stadium possible" he doesn't say he was the only one to donate he just gave the most money... On the other hand you probably were not a business major but taking on small debt with low interest rate to complete a project is sometimes required ... If you were to do that project today with steel and oil prices going up the project would cost well over 200 million dollars so he actually saved us a ton of money... thank you for being not informed mpwright

[MichaelPhillipWright]

Like most Boren-lovers, you're full of it. The stadium was originally built in 1925, when Ed Gaylord was a small child. The 2002 expansion was financed by a bond. issue. The principal and obligated interest on this will be $137 million. Gaylord gave $12 million toward the end of the project, for the new front facade which bears his name. Boren wasted $137 million in public funds for this unnecessary narcissistic project, and, in your twisted mind, you congratulate him for "saving" money.

[MichaelPhillipWright]

You are stumbling all over yourself in your pathetic attempt to sound educated. You might start with the fact that the pay-out period for the bond is 30 years, not 35. The total debt burden, including obligated interest, is $137 million, and all your goobledegook about "NPV" doesn't change that. Your suggestion that somehow the expanded stadium gives OU opportunity to compete in bowl games is laughable. OU went to plenty of bowl games before Boren's ridiculous narcissistic stadium expansion.

[rtheuer1]

It's misleading to list the total cost of a 35 year bond without listing it's Net Present Value. At a conservative inflation rate of 3% annualized the bond comes out to $85M. Over the same time the NPV just of bowl games averaging $5M (we're getting $17M this year), is about $107M. When you add in all the other direct and indirect benefits, like the $22M Journalism building the Gaylords donated at the same time they donated the $12M to the stadium, the stadium becomes a good investment.

[MichaelPhillipWright]

The stadium was originally built in 1925 and named the Memorial Stadium to honor people who had died in World War I. Boren trampled on the memories of the war dead when he renamed it to honor his slave-masters in the Gaylord family. You disgrace yourself by excusing this atrocity. No wonder you remain anonymous while hiding your face in shame.

[MichaelPhillipWright]

It's amazing how you Boren-lovers deny what's in front of your eyes. You say that "no one is trying to cover up" the fact that Gaylord didn't pay for the stadium. The video shows the lying plaque Boren put in front of the stadium which says that it was "made possible" by the "generosity of Edward Gaylord." It's also a myth that the athletic department is "self-supporting." An Open Records Act disclosure has confirmed that funds have been transferred to that department from the general budget.