Tim Leiweke, an Oak View Group co-founder, was pardoned by President Trump Tuesday, Dec.2, after he was indicted in July for allegedly rigging the bidding process of a Texas sports arena.
Leiweke has a long history of developing high-budget sports arenas. He co-founded the Oak View Group, a real estate developer credited with bringing the Islanders back to Long Island with the UBS Arena, in 2021, according to Newsweek. Oak View Group remains a partner on the Long Island arena.
The indictment charged Leiweke with “orchestrating a conspiracy to rig the bidding process for an arena at a public university in Austin, Texas,” and carried a maximum sentence of 10 years in prison and an $1 million fine.
“I do not have the words to adequately convey my profound gratitude to President Trump. This has been a long and difficult journey for my wife, my daughter and me. The president has given us a new lease on life with which we will be grateful and good stewards,” Leiweke said in a statement.
“Timothy Leiweke allegedly led a scheme designed to steer the contract for entertainment services at a public university’s arena to his company,” said Assistant Director in Charge Christopher G. Raia of the FBI New York Field Office, according to the indictment.
“The defendant rigged a bidding process to benefit his own company and deprived a public university and taxpayers of the benefits of competitive bidding,” said Assistant Attorney General Abigail Slater of the Justice Department’s Antitrust Division,who was quoted in the indictment.
The Moody Center of the University of Texas was the arena at the center of the charge. The arena cost $375 million to develop, and is still managed and operated by the Oak View Group, according to The New York Times. The group also retains a portion of revenue. Leiweke stepped down as CEO following the July indictment.
CNN reported that the Oak View Group already agreed to pay $15 million in penalties related to the allegations against Leiweke.
“We are happy for Tim that he can now put this matter behind him,” said a spokesperson for the Oak View Group.
