The phone rings, but Tom Kivisto doesn’t answer. It doesn’t matter who’s calling — he doesn’t pick up.

The former Kansas basketball player and long-time donor to the Athletics Department hasn’t been heard from much since July 18. That’s when he was removed as president and CEO of his own company, SemGroup LP, which filed for bankruptcy after citing losses of at least $2.4 billion. According to the company, Kivisto owes at least $290 million for trading losses associated with one of his private companies.

The field at Memorial Stadium was named Kivisto Field in 2006 after Kivisto pledged $12 million to the department to help pay for the new football practice facility that was completed this summer. It’s unclear exactly how much of the $12 million has been paid, but published reports say that at least $4 million has already been received by the University.

When Kivisto was ousted at SemGroup, some questioned if he would still be able to come up with the remaining money he had promised. But according to Dale Seuferling, president of the KU Endowment Association, Kivisto is on schedule with his payments.

“The obligation that Mr. Kivisto has to KU is current and up to date,” Seuferling said. “It’s currently satisfied to this date.”

Its unclear exactly what would happen if Kivisto were unable to pay the remaining debt to the department.

Donors who pledge large amounts of money to the University as Kivisto did typically will set up a payment plan with the Endowment Association and make certain payments on the dates chosen by the donor. According to Seuferling, Kivisto hasn’t missed any payments, but he wouldn’t say how much had been paid or when the next payment was due.

“We don’t get into specifics like that publicly,” Seuferling said.

Kivisto returned to Lawrence to make his first public appearance when he watched the KU-Sam Houston State game Sept. 20 as a guest of Associate Athletics Director John Hadl.

Kivisto founded SemGroup, an energy company which transports oil from the well to the refinery, in 2000 and turned it into one of the nation’s top private companies. According to www.forbes.com, the company made 47 acquisitions in eight years — bringing in revenue of $13.2 billion.

Kivisto made and eventually lost his money by hedging, a process that usually minimizes financial risk. Companies such as SemGroup bought barrels of oil for a certain price and then predicted what the barrels would be selling for two months later — committing themselves to sell at that price. If the actual price in two months ended up being lower, then the company profited. If the market price was higher than the committed price, then the company would have to pay for the difference itself and lose money.

With the rise in oil prices in the last year, SemGroup was losing money too often to profit. According to The Kansas City Star, it looks as if Kivisto thought the price would even out and come back down so he kept hedging and continued to lose money. Now, the company is being investigated by the Securities and Exchange Commission and it’s possible that Kivisto’s questionable actions could send him to jail.

Since his removal, he has made only one public statement. He has done no interviews and has not talked to several of his friends. It appears he has secluded himself inside his Tulsa home, waiting for a chance to tell his side of the story.

“With an investigation under way, I cannot answer any of the pressing questions or comment on speculations regarding the SemGroup situation,” Kivisto said in the statement in late July. “With investigations, and the complexities of the issues, these explanations are slow in coming. I trust, however, as the facts and truths surrounding this chain of events are revealed, the SemGroup employees will regain their trust in what they initially believed.”

And while he reportedly owes $290 million to SemGroup and some of his remaining $12 million pledge to the University, Kivisto has the support and backing of many who have been associated with him.

“Tom Kivisito has been a member of the Kansas athletics family for a long time,” said Jim Marchiony, associate athletics director. “We still consider him a member of the family and we support him as much as we can.”

— - Edited by Arthur Hur