T. Boone Pickens, the billionaire oil tycoon who gave $165-million to Oklahoma State University’s athletics department in 2005, said on Saturday that he would announce “another major gift” to the department on Monday. He did not reveal the value of the gift, but according to the Tulsa World, a source familiar with the situation said it would be $63-million.

The new gift will replenish a fund started with the earlier donation, Mr. Pickens said. That fund constitutes a big chunk of the money for stadium upgrades and an athletics village to be built at the Stillwater, Okla., campus, but the controversial project has been put on hold because the fund has taken a beating in the national economic downturn. Mr. Pickens would not divulge the fund’s value, the newspaper reported, but he did acknowledge that it had dropped about 60 percent.

He said money in the fund had been removed from market investments and deposited in a bank. “Sure, we took some losses,” he said. “Who didn’t in this crash?” Asked whether the gift he plans to announce on Monday will allow Oklahoma State to proceed with the athletics village, he said, “Not yet.”

Mr. Pickens is also the author of plan to help the university secure $280-million for the athletics program by establishing $10-million life-insurance policies on boosters. —Charles Huckabee

Updated on Monday, October 27: The university confirmed the size of the new gift as $63-million and said that $125-million of the original gift remained after market losses.