BATON ROUGE — Former LSU basketball legend and four-time NBA champion Shaquille O'Neal said he is investing in the proposed new $400 million arena on LSU's campus, The Advocate reports.

"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 during a private meeting with local business leaders Friday. "I look forward to becoming the first investor to help bring this new venue to Baton Rouge and LSU."

O'Neal also vouched for Oak View Group, the sole finalist for the project. Oak View's CEO stepped down last month after he was indicted on bid-rigging allegations connected to Austin's Moody Center, the project cited as inspiration for the proposed LSU arena.

"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.

The Advocate said that O'Neal didn't 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 been finalized, with LSU officials pausing the deal after Oak View's then CEO, Timothy Leiweke, was indicted July 9. After Leiweke stepped down as CEO, LSU said it was "evaluating the implications."