AUSTIN, TX (CelebrityAccess) — The University of Texas at Austin, the Oak View Group and Live Nation, announced plans for the official groundbreaking and start of construction on the Moody Center, a new multi-purpose arena in Austin.
The new $338 million, 15,000-seat will be privately funded and is intended to replace the aging 42-year-old Frank C. Erwin Jr. Center at The University of Texas at Austin campus.
When it opens, the arena will host Texas men’s and women’s basketball games, graduations, as well as university, community, high school, and other events for the Austin community, as well as concerts by nationally touring artists.
“The University of Texas is one of the most important and largest universities in the world. Our partnership with President Fenves, Athletic Director Del Conte and the entire university is a new vision and a new standard on a private-public partnership that will create a world-class venue for the Longhorns and for Austin,” said Tim Leiweke, CEO of Oak View Group. “This partnership has brought together one of the most recognized universities and brands, the Longhorns, with the world’s leader in content, Live Nation, and the world’s largest developer of new arenas, OVG, with Matthew McConaughey. Those partners will create one of the greatest arenas in the world and become the heart and soul for the campus and Austin.”
“The Moody Center will be a must-play arena and we look forward to bringing our concerts and tours there as soon as the doors open in 2022,” added Michael Rapino, Chairman and CEO, Live Nation Entertainment.