The T. Boone Pickns story is interesting. He gives $200 million on condition the money is invested in his hedge fund. The school parks the money there, then issues bonds to build a stadium. The school is on the hook for $200 million. Then the hedge fund goes belly up, all the money is lost. The school now has a $200 million loan out. In the meanwhile, faculty won research grants for a single project (private corporate money, not a national institute) similar to UConn's Jackson Labs project, hundreds of millions at stake. New labs are needed, a new building. The school goes to bond them out, investors look at their debt exposure, especially with the $200m on the books from the stadium, and they deem them too big a risk. No one will lend. The school's credit-rating is downgraded. A year goes by and the private company pulls out of the project. Meanwhile, T. Boone Pickens promises he will fund what he promised. I'm sure he will. But look what happened in the meantime.