The Pit is also the nickname of
University of New Mexico's University Arena. The Pit is widely regarded as one of the loudest
college basketball arenas in the nation, and gives the host
Lobos a big homecourt
advantage.
The court is actually 37 feet underground (thus the name "The Pit")
The arena hosted the 1983 NCAA men's basketball Final Four, which culminated in North Carolina State beating Houston on a dunk as time expired, regarded by many as one of the best championship games in history.
The capacity of the arena is 18,018, including standing room only (according to GoLobos.com)