A federal grand jury has delivered a stunning blow to the sports business world, indicting veteran executive Timothy Leiweke on charges of orchestrating a multi-million-dollar bid-rigging conspiracy. The alleged scheme revolves around the development of the Moody Center at the University of Texas, a high-profile arena now valued at $388 million. This legal development casts a major shadow over Leiweke’s celebrated career, which includes a storied history of building successful sports and entertainment venues.
According to federal prosecutors, the conspiracy spanned from 2018 to 2024. The indictment claims Leiweke, while at the helm of Oak View Group, made a clandestine deal with the CEO of a rival firm, Legends Hospitality. The alleged arrangement was a classic case of eliminating competition: Legends would withdraw their bid for the massive Moody Center project, and in return, Leiweke’s company would provide them with lucrative subcontracts.
However, the alleged plot reportedly unraveled when Leiweke failed to deliver on his end of the bargain. With Legends Hospitality no longer in the running, Leiweke’s Oak View Group was the only qualified bidder left. The company ultimately secured the contract for the arena, which successfully opened in April 2022 and continues to be a top venue for college basketball and concerts.
The charges now threaten to dismantle Leiweke’s legacy. If convicted, the former president of the Denver Nuggets and MLSE CEO could face a prison sentence of up to 10 years, in addition to significant financial penalties. His recent resignation from his CEO role at Oak View Group underscores the gravity of the accusations and signals a dramatic fall from power for a once-unassailable industry figure.