LINCOLN, NEB. ? The possibility that Nebraska’s State Fair could fold is disappointing to folks who have been involved for years.

Jack Aegerter of Seward served on the Fair Board from 1971 to 1994, including a stint as president.

“It’s a sad deal,” Aegerter said. “I was in on the good times.”

Faced with declining revenues and removal of all state aid, members of the Fair Board said Friday they must find $400,000 by mid-November and come up with sources to reduce more than $1 million in total debt by the end of the year.

If that doesn’t happen, the State Fair could be out of business.

That left former State Fair board members and others lamenting the possible loss of 135 years of state tradition.

“They could show in other places,” said Jean Schafersman, whose son Todd won a purple ribbon for his grand champion lamb this year. “But this state fair, it’s the State Fair! That is the finale of the year. You work all summer for that finale.”

“It hurts me, too,” said Henry Brandt, who managed the State Fair from 1965 to 1988. “It hurts me bad. I hope something turns up for them.”

Gov. Mike Johanns has said a large grant from the state would be hard to do in the current economic slowdown.

Aegerter said he bought a couple of lottery tickets over the weekend.

“If I win, I’ll give them $1 million and get them out of trouble,” Aegerter said.