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Tim Leiweke Indicted in Bid-Rigging Scheme for UT’s Moody Center Arena

The Sherman Act charges follow Oak View Group’s agreement to pay $15 million in civil penalties with Legends Hospitality paying $1.5 million

Oak View Group co-founder Tim Leiweke looks over a construction fence as construction continues on the New York Islanders new UBS Arena, Wednesday, Oct. 7, 2020, in Elmont, N.Y. The arena will be home to the New York Islanders NHL hockey club and will also be used for musical concerts. For hockey, the arena's capacity will be around 17,000 fans, and for concerts, around 19,000 people. (AP Photo/Kathy Willens)
The Moody Center, home of the Texas Longhorns, in Austin, Texas, on December 1, 2022.
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Overview

  • The DOJ alleges that from February 2018 through June 2024 Leiweke conspired with a competitor’s CEO to suppress rival bids for the $338 million Moody Center at the University of Texas.
  • He is charged with violating Section 1 of the Sherman Act, carrying up to 10 years in prison and a $1 million fine.
  • Oak View Group and Legends Hospitality settled potential charges by agreeing to pay $15 million and $1.5 million, respectively, under non-prosecution deals.
  • Following the indictment Leiweke transitioned to vice chairman and Oak View Group installed Chris Granger as interim CEO.
  • Leiweke maintains his innocence and vows to defend his well-regarded reputation as the legal process unfolds.