OU's football stadium project has been scaled down, but the bowling in of the south end zone and the new weight room and fitness facility underneath remains in the plans, a university source said Tuesday. OU president David Boren is expected to present the new plan at the regents meeting Tuesday afternoon in Oklahoma City.

The source said the new plan delays the later phases of the project, which include the west-side upper deck renovation and stadium infrastructure. The cost of the plan now goes from $350 million to approximately $160 million, the source said.

The original plan suffered poor timing, with the drop in oil prices and OU's disappointing 2014 season. The new plan calls for 28 luxury suites, and the source said all have been sold. The plan prioritizes student athletes, with the new training facility that will be used by all sports, and is the most dramatic for fans, with the stadium bowl. The source said the other stadium improvements do not have a timetable.

The source said OU has raised $43 million with suite sales and will fund the project with $117 million in bonds. The previous plan called for $250 million in bonds. The source said that the suites and new seating pricing, based on 80 percent occupancy, will produce about $12 million a year and bond payments will be about $7.3 million a year. So the financial structure has a cushion of almost $5 million per year. No state money or tuition money, or Big 12 Conference distribution money, will be included.