Moody Center ATX | 9,051 followers on LinkedIn. World-class concert venue and new home of The University of Texas Longhorns basketball. | The University of Texas at Austin, Oak View Group (OVG), and Live Nation Entertainment announced on December 3, 2019 the official groundbreaking and start of construction on the Moody Center, a new multi-purpose, state-of-the-art privately financed sports and entertainment arena in Austin, the “live music capital of the world.” The new $375 million, 15,000-seat world-class arena replaces the 42-year-old Frank C. Erwin Jr.