allday92
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Moody Foundation paid $130M. Then they did an innovative deal with Oak View Group. Oak View is a LA company that manages sports venues. Oak View contributed the rest. Oak View built and manages the arena, and for the first 10 years, they get all revenue. After 10 years, the university will start to earn a portion of the revenue from the arena.If I am not mistaken, didn’t city of Austin pay 300!million and private donor covered the rest of the UT stadium? I think that was what led to trying to get Norman involved.
‘An innovative deal’: How Texas got a $300 million basketball arena at no cost to taxpayers, boosters
The new Moody Center will be open to the public this week, and the University of Texas-owned arena was built at no costs to the taxpayers, boosters.