An Oklahoma businessman has pledged $70 million to Oral Roberts University — a move that could prevent the closing of the financially strapped school in the midst of the latest scandal.  

Given the modest size of the school (with a reported $50 million in debt), the survival of the school could depend on the speed of the transfer. It is reported that $8 million would be transferred immediately. The school’s future may also turn on the outcome of current investigations into the alleged misconduct of the Roberts family. It remains unclear whether criminal charges will be considered or whether the University will sue for compensation from the family.

For the latest in the story, click here