Oak View Group CEO Leiweke charged with bid rigging in U. of Texas arena project
Oak view group CEO Tim Leiweke was accused of a federal penalty conspiracy for developing, managing and operating the basketball arena of Texas University in Austin.
Leiweke 68 -year -old Leiweke is accused of conspiracy with another bid to encourage the separation of this second company from the competition with Oak View Group in exchange for a profitable subsidiary in the arena.
Tim Leiweke, CEO of OAK View Group, participates in the groundbreaking ceremony for the “Moody Center”, the new Texas University event facility in Texas, on December 3, 2019.
Gary Miller | Getty Images
The indictment said that Leiweke promised the other company after leaving the effort to submit the whole project.
CNBC reached OAK View Group for a comment.
OAK View Group’s website says the company manages 400 sports, entertainment and other places.
File Photo: On December 1, 2022, Austin is the general view of Moody Center, the home of Texas Longhorns in Texas.
Porter Binks | Getty Images
Lewieke is the former CEO of Maple Leaf Sports and Entertainment. Before that, he served as the CEO of Anschutz Entertainment Group.
He told the CNBC that two familiar people are expected to announce the two out -of -prosecution agreements of the Ministry of Justice’s Department of Antitröst, in connection with OAK View Group and Legends hospitality.
Oak View is expected to pay a $ 15 million penalty, and according to these people, Legends hospitality is expected to pay $ 1.5 million.
“Mr. Leiweke did not do anything wrong and rightly and rightly defend for justice and honesty,” Leiweke’s spokesman said in a statement to CNBC.
“The claims of the Antitröst department should never be imposed on the laws and facts,” he said. “The law is open: Vertical, complementary business partnerships are legal, as thought between OVG and legends.”
“These claims clearly ignore the established legal precedent and try to punish the efforts to create a common team that has developed competition and benefit the public. Moody Center is the perfect example because it results in important and constant benefits to the University of Texas and Austin.”
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