The upper deck of the arena will be curtained off with new technology to create an intimate, intimidating home for UT basketball. (Gensler)

Oak View Group will privately develop a new arena for the University of Texas under an innovative agreement that gives the Big 12 school the opportunity to share in revenue without investing upfront on construction.

The UT System Board of Regents approved the deal this afternoon in Austin.

OVG, which is also the parent company of VenuesNow and P...

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