UPDATE: The bill means alcohol sales will also be allowed at McKenzie Arena.

UTC officials told Channel 3 that the university's administration has not yet given the green light for those sales.

“As we have said previously, we have no problem with the sale of alcohol in McKenzie Arena at non-athletic events such as concerts, rodeos, monster truck rallies and similar events. However, the official go-ahead from UTC’s administration for those sales has not been issued. We have not discussed selling alcohol at athletic events.”

Stay with Channel 3 for the latest.

PREVIOUS STORY: Governor Bill Lee has signed a bill into law that will allow alcohol sales at Neyland Stadium and Thompson-Boling Arena.

It's a topic that's long been discussed, especially when it comes to big events and concerts.

Republican Senator Becky Duncan Massey of Knoxville introduced the bill in February that would allow alcohol at special events and concerts--but not games.

That's because of the SEC's strict no-alcohol policy.

While the law went into effect immediately, UT will still need to create a policy for sales of alcohol on campus.

Massey said she believes this will help Knoxville compete with other big cities to bring big names to town.

"Bottom line is, it's kind of a fairness issue," Massey said. "We can't compete for those big venues like Kenny Chesney and big names because they depend a whole lot on the sales of concessions and obviously the alcohol is a part of that."

Massey said alcohol sales could help boost tourism and economic drive in the area.

Read more from WBIR's website.