Tim Leiweke, the arena-building power broker who co-founded Oak View Group (OVG) with Irving Azoff, pleaded not guilty Monday to a single felony count of conspiring to rig bids for the University of Texas’ Moody Center arena. The longtime executive self-surrendered to federal authorities before his initial appearance in U.S. District Court, where Magistrate Judge Susan Hightower released him on an unsecured $1 million bond and restricted his travel to the continental United States.
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The Department of Justice alleges Leiweke struck an illegal agreement in 2017 with Legends Hospitality—then led by former CEO Shervin Mirhashemi—promising the rival firm lucrative subcontracts if it withdrew plans to compete for the Moody Center contract. That maneuver, prosecutors say, cleared the way for OVG to win the sole bid to finance, build and operate the $338 million, 19,000-seat venue that opened in 2022.
Both OVG and Legends avoided criminal charges by signing non-prosecution agreements earlier this month, paying penalties of $15 million and $1.5 million, respectively, and stipulating to the government’s statement of facts. The companies are now cooperating with prosecutors, according to court filings.
Leiweke, 67, stepped down as OVG’s chief executive after the July 11 grand-jury indictment but remains a shareholder and vice-chair of the board. In an internal memo announcing his resignation, he insisted the government is “wrong on the facts and the law” and that the bidding process was “lawful, ethical and pro-competitive.” The same day, defense attorney David Gerger said in a statement that Leiweke “built UT a great arena—and saved the university millions of dollars in the process … They did that by competition, not crime.”
The case emerged from emails uncovered during the DOJ’s 2024 antitrust review of Legends’ $2.3 billion merger with ASM Global, according to a source familiar with the investigation. Leiweke faces up to 10 years in prison and a $1 million fine if convicted under Section 1 of the Sherman Antitrust Act.
Judge Hightower has not yet set a trial date. Leiweke’s next court appearance is expected later this summer as pre-trial motions are filed.
