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On Friday, one of the facility’s primary donors, KU alum Tom Kivisto, was removed from his job as CEO of SemGroup LP in Tulsa, Okla. On Tuesday, according to the Tulsa World, SemGroup, the private energy company that Kivisto founded in 2000, filed for Chapter 11 bankruptcy. The petition documents said that SemGroup’s losses total more than $2.4 billion and that Kivisto owes the company $290 million in trading losses through his personal trading company.
Kivisto, a former KU basketball point guard, promised in February 2006 to contribute $12 million to KU’s football-specific practice facility. But, according to the World, Kivisto has only paid $4 million thus far.
Kivisto, whose name is attached to the field at Memorial Stadium thanks to his promise, could not be reached on his cell phone on Wednesday night. Dana Anderson, the other primary donor for the complex, did not return phone messages seeking comment.
KU associate athletics director for external relations Jim Marchiony said of Kivisto, “He’s an important member of our family. He was, he is and he will be.”
Kivisto was a three-year letterman for the Jayhawks during 1972-74, leading them to the Final Four his senior season.
Under Kivisto’s direction, SemGroup became one of the fastest-growing energy companies in the country. According to the World, the company was known for its philanthropic activities, including its sponsorship of an LPGA golf tournament and major donations to the arts in Tulsa.
The newspaper said that SemGroup “ran into problems with oil futures transactions” during the last year.
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