The University of Texas has enlisted a famous face to optimize the fan experience at its new $338-million basketball arena.

The school announced Thursday that Academy Award-winning actor and Texas alumni Matthew McConaughey will serve as the "Minister of Culture" at the venue, "ensuring that Longhorn and Austin cultures are front and center and helping create a fan experience unlike any other."

The 10,000-seat arena, slated to open in 2021, will host men's and women's basketball games, graduations, concerts, and other events.

"It's time to raise the bar," McConaughey said in a statement. "It's time to excel, on the court and in the stands. It's time for an authentic home court advantage for our Longhorn basketball teams. It's time for a choice experience for our fans. It's time to be a preferred venue for headliners from across the globe. It's time for quality, success, and victories for the Longhorns and for Austin. It's time for the big show. It's time. Hook 'em."

McConaughey is also one of the partners on the project along with OVG, Live Nation, and C3 Presents.