- Oak View Group CEO Tim Leiweke has been indicted on a federal criminal conspiracy charge related to his alleged role in rigging the bidding to develop, manage and operate the University of Texas’ athletic arena in Austin.
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Tim Leiweke, the CEO of Oak View Group, has been charged with federal criminal conspiracy in connection with his alleged involvement in manipulating the bidding process for the construction, management, and operation of the University of Texas basketball arena in Austin.
According to the indictment, Leiweke, 68, plotted with another prospective bidder on the $338 million Moody Center arena project to persuade the second company to withdraw from the Oak View Group competition in exchange for lucrative subcontracts at the arena.
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Leiweke allegedly broke that pledge to the other company when it decided not to bid on the entire project, according to the indictment.
Oak View Group has been contacted by CNBC for comment.
According to its website, Oak View Group oversees 400 entertainment, sports, and other facilities.
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Lewieke was Maple Leaf Sports and Entertainment’s previous CEO. He was the CEO of Anschutz Entertainment Group prior to that.
Two non-prosecution agreements are anticipated to be announced by the Department of Justice’s antitrust division in relation to the case involving Oak View Group and Legends Hospitality, two people with knowledge of the situation told CNBC.
According to those individuals, Legends Hospitality is expected to pay a $1.5 million penalty, while Oak View is slated to pay a $15 million penalty.
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