The Pit, formally named WisePies Arena aka The Pit, is an arena in Albuquerque, New Mexico serving primarily as the home venue of the University of New Mexico Lobo basketball teams. The facility opened in 1966 as University Arena but soon gained the nickname "The Pit" due to its innovative subterranean design, with the playing floor 37 feet below street level. In 2009, the nickname was adopted as the official name.