Moody Foundation Awards $130 Million to UT Austin for Basketball Arena

Moody Foundation Awards $130 Million to UT Austin for Basketball Arena

The University of Texas at Austin has announced a $130 million gift from the Galveston-based Moody Foundation in support of a new basketball arena.

The largest foundation gift ever to UT Austin will support construction of a ten-thousand-seat arena for the UT men's and women's basketball teams that will double as a venue for graduation ceremonies, concerts, and other events. Scheduled to open in 2022 on a site directly south of Mike A. Myers Stadium, the Moody Center will replace the more than forty-year-old Frank C. Erwin Jr. Center, creating additional space for the expansion of the Dell Medical School.

The commitment from the foundation boosts its support for UT Austin to more than $200 million, including a $20 million gift earlier this year in support of the Blanton Museum of Art and a $50 million gift in 2013 to endow the Moody College of Communication. In total, the foundation has contributed more than $260 million to institutions in the University of Texas System.

"The Moody Center signals a new era for UT and Austin, providing fans and citizens the world-class experience they deserve in the world-class city we call home," said Ross Moody, a Moody Foundation trustee and chair and CEO of National Western Life Group. "The Moody Foundation has a long history with this prestigious university and this wonderful community. We couldn't be happier to partner with UT in this transformative gift to benefit future generations of Longhorns and Texans."

(Image credit: University of Texas at Austin)

"Moody Foundation Donates $130M to UT; New Arena to be Named Moody Center." University of Texas at Austin Press Release 11/09/2019.