Ryan O’Neal Beats Univ. of Texas Over Farrah Warhol Painting

Actor Ryan O’Neal emerged the winner in a legal tussle over who gets to keep an Andy Warhol portrait of his longtime mate, Farrah Fawcett. A jury in Los Angeles found on Thursday, December 19, that Farrah Fawcett was not the owner of the Warhol painting, O’Neal was.

The University of Texas contended that Farrah Fawcett owned the painting, and therefore it was part of her bequest to leave the University “all” her artwork. The actress passed away on June 25, 2009 after a long battle with cancer. The University has the Warhol portrait that Farrah did own hanging in its Blanton Museum of Art.

Both portraits are, of course, worth Big Bucks. Warhol works are second only to Pablo Picasso as a top-selling artist. His paintings go for an average $7.8 million apiece.

The jury also found that Fawcett and O’Neal owned a tablecloth painted with hearts, addressed to both of them and signed by Warhol. A hearing was set in January to determine what to do with the keepsake, which is in the university’s hands. O’Neal’s attorney, Marty Singer, said he hoped the parties could agree to auction the tablecloth and donate the proceeds to the Farrah Fawcett Foundation, which raises money for cancer research.

So all’s well that ends well, for Ryan O’Neal, at least. As for the University of Texas, there is apparently another issue to be settled in probate court — whether the Charlie’s Angels star intended to leave them all her acquired artwork or just the artwork that she created while studying art there.