Sports and entertainment mogul accused of making secret backroom deal in $338 million arena project

Oak View Group's Tim Leiweke attends the groundbreaking ceremony for the new University of Texas event facility, the "Moody Center" on December 3, 2019 in Austin, Texas. (Credit: Photo by Gary Miller/Getty Images)

• Oak View Group co-founder Timothy Leiweke is facing 10 years in prison and a $1 million fine for allegedly reaching a secret backroom deal with the CEO of a competitor to land a sports arena contract for the University of Texas at Austin, authorities said on Wednesday. He has stepped down as CEO of Oak View, the company announced. A spokesperson for Leiweke said the executive has “done nothing wrong and will vigorously defend himself and his reputation for fairness and integrity.”

Timothy Leiweke, co-founder mogul of entertainment venue developer Oak View Group (OVG), is facing a decade in prison following an indictment returned on Wednesday. Leiweke is accused of allegedly conspiring with the CEO of competitor Legends Hospitality to make sure Oak View Group was the only bidder on a project to develop the 15,000-seat, $338 million Moody Center, which hosts the University of Texas’ mens and women’s basketball games and musicians such as Leon Bridges, Willie Nelson, George Strait, and Kali Uchis.