In November 2019, The University of Texas at Austin announced a $130M grant to support Texas Athletics from the Moody Foundation. The grant will help build the new 10,000-seat arena that will provide an intimate Texas Men’s and Women’s Basketball fan experience and feature student seating surrounding the court. The new $338M venue is designed to expand to 15,000 seats. Much like the Erwin Center, the Moody Center will be a prime location for university, campus, community and high school events and will provide a world-class stage for touring concerts and shows. The Moody Center is expected to open in 2022.