Evangelist Oral Roberts, who said in March he needed $11 million by Saturday to save his ministry, will ask creditors for more time if the $4 million still needed isn't raised this weekend, ministry officials said.
Mark Swadener, chief financial officer for the ministry, said officials will meet Monday to determine whether the fund-raising goal was met and if they need to request more time from vendors.Roberts said in late March that he must raise $11 million by May 6 or creditors will begin "dismantling" Oral Roberts University and City of Faith hospital. The university also would be unable to meet the payroll for its 2,130 employees, he said.
"Based upon where we have been, it looks like we will have to talk to the vendors about an extension," Swadener said Thursday.
Roberts, 71, said monthly contributions to his ministry have been cut nearly in half, dropping from $5 million to $2.7 million, and blamed "a spirit of skepticism" after scandals in the ministries of evangelists Jim Bakker and Jimmy Swaggart.
Roberts announced Tuesday that the university's athletic programs were dropping out of NCAA competition immediately to save an estimated $500,000 to $1 million a year.