The Pit Arena (previously known as the Wise Pies Arena) is situated in Albuquerque, New Mexico. It was opened in the year 1966 after a year of construction in which an estimated amount of 1.4 million dollars (which is equal to 10.3 million dollars as of 2017) was spent. The arena serves home to the NCAA basketball team New Mexico Lobos. The Pit has been ascertained as one of the loudest and the best college basketball venues in the nation. It has 365 club seats and 40 luxury suites. The Pit Arena was opened as the University Arena but soon became popular as "The Pit" because of its underground design. The playing floor of the arena is 37 feet below the street level. The renovations have made the arena more spacious with the addition of futuristic amenities for the fans. These renovations were completed in 2010 and amounted to 60 million dollars.
The Pit Arena is also home to the renowned University of New Mexico Women's basketball team popularly known as the "Lady Lobos".
One of the basketball courts has been named after Bob King, the former head coach of the Lobos team who had also significantly contributed to the construction of the arena.
The Pit predominantly hosts WWE events. 
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