AUSTIN -- What began as an idea just a few years ago is now coming to fruition.
On Thursday, the UT System Board of Regents approved a new on-campus basketball arena for the Longhorns, which is slated to open in 2021.
"I'm fired up for our student-athletes, I'm fired up for the city of Austin, for our students and more importantly for the University of Texas," athletic director Chris Del Conte said during a press conference Thursday afternoon on UT's campus. "We're making dreams a reality."
The $338 million project will be fully funded and built by Oak View Group, LLC, in a rather unorthodox deal.