The University of Texas at Austin in the US has launched a search for a partner to support a project to build and operate a new basketball arena.
Issued on February 2, the university’s Request for Qualifications and Proposal seeks private entities that have developed basketball arenas elsewhere and would be suited to support the initiative.
The arena, complete with a new training facility, must also be suitable for hosting other, non-sports events such as music concerts, as the university seeks to maximise the revenue potential of the facility.
The successful company must “provide for the design, permitting, development and construction of the New Arena Project with minimal University financial participation”.
The not-yet-named arena will replace the 40-year-old Frank Erwin Center, which will be demolished in the next few years in order to accommodate the expansion of the Dell Medical School.
Gregory Fenves, president of the University of Texas at Austin, said: “We have a unique opportunity to develop a world-class arena and training center for the men’s and women’s basketball teams that will help us recruit and support elite student-athletes, improve the fan experience and host games just a short walk away for our student fans.
“Just as important, we are looking to do this at little cost to the university and no financial cost to the community.”