The University of Texas could be getting a new $300 million dollar basketball arena at no expense to the University or taxpayers.
The Statesman reports a California company called Oak View Group would build and manage the arena on land leased by UT. They would give UT around sixty dates every year for basketball games, graduations and other school functions. Oak View Group would recoup its investment from sales of concessions and other generated revenue for ten years. The arena would replace the Frank Erwin Center which will be demolished. The Board of Regents could approve the deal Thursday.
