re: New LSU Arena? - EBR Metro Council Agenda

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In 2018, it was announced that Oak View Group and UT agreed to form a public-private partnership, to build a new $375 million arena. The arena will replace the Frank Erwin Center as the home for the Texas Longhorns basketball programs, and will also function as a world-class events center for the city of Austin. The new arena is named the Moody Center following the Moody Foundation's grant of $130 million to the university. Oak View Group is funding the construction, and will manage the building in exchange for the right to keep most of the income from non-UT events, such as concerts and shows, for at least the first 35 years after opening. UT, however, owns the land under the arena and will be the owner of the building. Under the terms of the agreement, the university will have exclusive control of the arena for 60 days each year to hold men's and women's basketball games, graduations, and other events. Oak View Group, along with partners Live Nation and C3 Presents, will have the right to hold events on the other days.

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