A Walk in Our 'Shoe : the history of Ohio Stadium

(Image: North end, Stadium proposal, 1920) By June 1921 - seven months after the drive began - $1 million had been pledged, and little more than a third of it was paid. More than $200,000 pledged was never received, however. Due to cost overruns and this pledge shortfall, and despite raiding a faculty retirement fund to the tune of $300,000, Ohio State's athletic department went a half million dollars into the red. The debt was paid off, however, within five years.