Ryan O'Neal Responds to Lawsuit over Andy Warhol Portrait of Farrah Fawcett

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Ryan O'Neal says a lawsuit filed by the University of Texas seeking the return of an Andy Warhol portrait of Farrah Fawcett is "ridiculous" because the portrait in question belongs to him and was not included in pieces that Fawcett bequeathed to her alma mater after her death in 2009.

Officials from the University of Texas saw the portrait hanging in O'Neal's bedroom during an episode of the TV show "Ryan & Tatum: The O'Neals" and want to add the piece to Farrah's collection at the university.

In response to the lawsuit, a rep issued the following statement on behalf of O'Neal: "This is a completely ridiculous lawsuit. Ryan O'Neal's friendship with
Andy Warhol began 10 years prior to his meeting Farrah Fawcett. When
Ryan introduced Andy to Farrah, Mr. Warhol chose to complete two
portraits of her, one for Ms. Fawcett and one for Mr. O'Neal. Mr.
O'Neal looks forward to being completely vindicated in the courts."

Warhol's iconic silkscreen of Fawcett has been valued at $30 million, according to the New York Post.