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Oak View Group CEO Tim Leiweke has been indicted connected a national transgression conspiracy complaint related to his alleged relation successful rigging the bidding to develop, negociate and run the University of Texas' hoops arena successful Austin.
Leiweke, 68, is accused successful the indictment of conspiring with different would-be bidder connected the $338 cardinal Moody Center arena task to induce that 2nd institution to driblet retired of the contention with Oak View Group successful speech for receiving lucrative sub-contracts astatine the arena.
Oak View Group CEO Tim Leiweke attends the groundbreaking ceremonial for the caller University of Texas lawsuit facility, the "Moody Center" connected December 3, 2019 successful Austin, Texas.
Gary Miller | Getty Images
The indictment says Leiweke aboriginal reneged connected that committedness to the different institution aft it dropped its effort to bid connected the full project.
CNBC has reached retired to Oak View Group for comment.
Oak View Group's website says the institution manages 400 sports, amusement and different venues.
Lewieke is the erstwhile CEO of Maple Leaf Sports and Entertainment. Before that, helium served arsenic CEO of Anschutz Entertainment Group.
Two radical acquainted with the substance told CNBC that the Department of Justice's antitrust part is expected to denote 2 non-prosecution agreements successful transportation with the lawsuit with Oak View Group and Legends Hospitality.
Oak View is expected to wage a $15 cardinal penalty, and Legends Hospitality is expected to wage a $1.5 cardinal penalty, according to those people.
FILE PHOTO: An wide presumption of the Moody Center, location of the Texas Longhorns, successful Austin, Texas connected December 1, 2022.
Porter Binks | Getty Images
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