What many people don’t know is the increasing role Pickens is playing in the management of certain financial investments that help support the university.
So far, OSU golf has been the largest beneficiary. Holder said it would be ideal if other OSU athletic programs could take advantage of Pickens’ skills, but their financial needs for facilities and operations are so great that practically every donated dollar is spent as soon as it arrives.
The nonprofit group had two paid officers last year. Holder served as president and was paid $150,000. Mike McGraw served as secretary/treasurer and was paid $50,000. Holder was the men’s golf coach at the time and McGraw was the women’s coach.
McGraw was named men’s coach this year after Holder became athletic director. The salaries they received from OSU Cowboy Golf were in addition to their university salaries.
Normally having Pickens on the board would prevent the group from investing money with his funds, since it would create a conflict of interest. Pickens, however, agreed to waive all management fees. That not only made the investments possible, but boosted potential profits.
Excerpts from “Pickens’ investments earn OSU millions,” The Oklahoman, Sun December 4, 2005