Former LSU basketball player, four-time NBA champion and hall of famer Shaquille O'Neal will invest in the proposed new arena on the LSU campus.
"LSU and Baton Rouge deserve a world-class arena and I’m very excited to endorse Oak View Group’s plan," O'Neal said in a statement Friday. "I look forward to becoming the first investor to help bring this new venue to Baton Rouge and LSU."
O'Neal vouched for Oak View Group, the developer that is the sole finalist for the project. Oak View's CEO stepped down last month after he was indicted on bid-rigging allegations connected to a project in Austin.
"I’ve worked with OVG in venues across the country (with my Big Chicken brand) and they are the best partners and great operators," O'Neal said in the statement.
O'Neal did not say how much of a stake he was planning to invest in the new facility, or what that deal might look like.
A final deal with LSU to develop the project has not yet been inked. LSU officials paused the deal after Oak View's then CEO, Timothy Leiweke, was indicted on federal charges July 9 for allegedly rigging the bidding scheme for an arena at the University of Texas at Austin that LSU officials have cited as inspiration for the project. Leiweke has since stepped down as CEO, and LSU said it was "evaluating the implications" the day after he was charged.
When reached for comment Friday, an LSU spokesperson said the university is "still in the evaluation/due diligence phase."
In Corpus Christi, where Oak View Group runs the American Bank Center, a city councilman called for a full audit of the firm's management of the facility after learning of an agreement with controversial ticket seller Ticketmaster that does not expire until 2032, TicketNews reports.
Baton Rouge hospital Our Lady of the Lake is the sole candidate for naming rights of the building. Documents show the hospital has discussed paying a $50 million fee over 10 years to name it "Our Lady of the Lake Arena."
Officials with Baton Rouge government, LSU and Our Lady of the Lake have all said the arena could be a "transformational" project that would draw major economic activity. In addition to providing a new venue for LSU basketball and gymnastics, it would host concerts and other major events.
On Wednesday, the East Baton Rouge Metro Council is set to vote on allowing the LSU Economic Development District to levy a 2% sales tax near the site where officials hope to build the arena.
Documents show the deal also hinges on both the parish and the state giving sales taxes collected on the stadium and immediate surroundings to Oak View Group.
