From an operational stand point this seems to make sense. Parking, media infrastructure, campus offices, and the ability to use the arena for on-campus gatherings that are both academic and extra curricular in nature. It may not be the exact location, but in the general area near the football stadium makes more sense to me than UNP.
Other SEC Schools are consistent with the arena location...
Arkansas - Bud Walton Arena - On Campus
Alabama - Coleman Coliseum - On Campus
Aubrun - Neville Arena - On Campus
Florida - O'Connell Center - On Campus
Georgia - Stegeman Coliseum - On Campus
Kentucky - Rupp Arena - Off Campus by a few blocks
LSU - Maravich Center - On Campus
MSU - Humphrey Coliseum - On Campus
Mizzou - Mizzou Arena - On Campus
Ole Miss - Black Pavilion - On Campus
South Carolina - Colonial Life Arena - On Campus
Tennessee - Thompson–Boling Arena- On Campus
Texas A&M - Reed Arena - On Campus
Vanderbilt - Memorial Gymnasium - On Campus
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