San Antonio, TX, August 19, 2025
News Summary
San Antonio’s Project Marvel, a proposed $4 billion downtown arena and entertainment district, may face delays as Mayor Gina Ortiz Jones calls for additional financial reviews and public meetings. With the City Council scheduled to vote on resolutions related to the project, the mayor seeks an independent economic analysis to ensure transparency. Key stakeholders express concern over the timeline for approvals, while details of the term sheet from Spurs Holdings remain undisclosed. The outcome of the upcoming votes will determine the path forward for this significant development project.
San Antonio — The planned downtown arena and entertainment district known as Project Marvel faces a potential delay after the city’s mayor called for additional financial review and public meetings before the City Council advances the proposal.
Topline
The San Antonio City Council is scheduled to vote on two resolutions related to Project Marvel on Thursday. Mayor Gina Ortiz Jones is urging the council to postpone action to allow for an independent financial analysis and to hold at least two meetings with constituents before proceeding. Spurs Holdings, LLC has provided a term sheet outlining how the arena would be financed and operated; a vote on that term sheet is expected by the end of the month, though its details have not been made public.
Immediate implications
The mayor’s request for a delay and an independent study has created a procedural pause and raised questions about the timetable for final approval. Most members of the City Council have expressed opposition to delaying the project, and parties involved have publicly acknowledged the commitments and the work completed to date. The outcome of the Thursday votes will determine whether the council moves forward immediately or adopts the mayor’s request to pause for further review and constituent meetings.
Key details
- Project name: Project Marvel — proposed downtown arena and entertainment district.
- Total projected cost: $4 billion.
- Term sheet: Produced by Spurs Holdings, LLC; details not yet released to the public. A council vote on the term sheet is expected by the end of the month.
- Mayor’s actions: Request to postpone, call for independent economic impact study, and request that the Spurs share a portion of NBA franchise revenue with the city.
- Public meetings: Mayor requested at least two constituent meetings before final approval.
Financial commitments and claims
Public documents and statements indicate specific financial commitments attributed to major participants. Those figures include a $500 million contribution attributed to the San Antonio Spurs, $311 million from the Bexar County Commissioners, and $489 million from the City of San Antonio. Separately, the Spurs’ chief executive has stated that the franchise’s total commitment to the arena project would amount to $2.1 billion, and that the organization intends to cover all construction cost overruns and avoid any tax impact on local families.
Stakeholders and positions
Key stakeholders include the San Antonio City Council, the Mayor’s office, City Manager Erik Walsh, Judge Peter Sakai, the Bexar County Commissioners, and Spurs Holdings, LLC. The mayor is seeking more financial transparency and an independent assessment of economic impacts, while most council members have shown resistance to postponing action. The proposed term sheet remains the central document governing project financing and operations, but it has not been released publicly, which is one reason cited for requesting additional review.
Potential outcomes and next steps
The immediate next steps are the council votes scheduled for Thursday on two resolutions related to the project and the anticipated end-of-month vote on the term sheet. If the council agrees to the mayor’s request, the process would include at least two public meetings and an independent economic analysis before a final vote. If the council moves forward without delay, the process would proceed based on the existing timeline and the terms set out by Spurs Holdings, LLC in the undisclosed term sheet.
Background and context
Project Marvel has been discussed publicly for months as a multi-billion-dollar redevelopment effort centered on a new arena and entertainment district in downtown San Antonio. Promoters describe the project as more than a sports venue, positioning it as an economic development initiative intended to create jobs, cultural amenities, and long-term revenue. Critics and some public officials have raised questions about public costs, revenue sharing, transparency of deal terms, and the potential tax effects on residents.
Frequently Asked Questions
What is Project Marvel?
Project Marvel is the working name for a proposed downtown arena and entertainment district in San Antonio with a projected total cost of $4 billion.
Why has the mayor asked to postpone the project?
The mayor has requested a postponement to allow for an independent financial analysis, additional public meetings with constituents, and further review of project terms and impacts.
When will the City Council vote?
The City Council will vote on two resolutions related to the arena project on Thursday. A separate vote on the term sheet produced by Spurs Holdings, LLC is expected by the end of the month.
What financial commitments have been disclosed?
Disclosed commitments include $500 million from the San Antonio Spurs, $311 million from Bexar County, and $489 million from the City of San Antonio. The Spurs have also been described as indicating a total commitment of $2.1 billion.
Are the term sheet details public?
No. The term sheet from Spurs Holdings, LLC has not been released publicly; the council is expected to consider it later this month.
Key features
| Feature | Detail |
|---|---|
| Project name | Project Marvel |
| Location | Downtown San Antonio |
| Projected cost | $4 billion |
| Spurs Holdings role | Produced term sheet; proposed financing and operations |
| Public commitments | City: $489 million; Bexar County: $311 million |
| Spurs stated contributions | $500 million listed; organization has indicated a total commitment of $2.1 billion |
| Next council actions | Two resolutions to be voted on Thursday; term sheet vote expected by month-end |
Project timeline
| Date/Time | Event | Status / Source |
|---|---|---|
| This week — Thursday | City Council to vote on two resolutions related to Project Marvel | Scheduled vote |
| By end of month | Expected vote on the term sheet produced by Spurs Holdings, LLC | Planned action |
| Recent | Mayor requested postponement, independent economic study, and public meetings | Request made by Mayor’s office |
| Recent | Spurs Holdings provided term sheet to city | Term sheet produced; not yet public |
Funding breakdown — visual overview
Below are simple visual bars showing disclosed contributions relative to the $4 billion project cost and a comparison of the Spurs’ stated total commitment to the project cost.
Bexar County: $311M (7.8%)
City: $489M (12.2%)
Remaining: $1.9B (47.5% of $4B)
Deeper Dive: News & Info About This Topic
HERE Resources
San Antonio Spurs Propose $2.1 Billion Arena Project
Texas Retail Construction Sector Sees Significant Growth
San Antonio Spurs Move Forward with Project Marvel Arena Proposal
San Antonio City Council To Vote On New Spurs Arena Plan
San Antonio Mayor Requests Delay in Spurs Arena Negotiations
San Antonio City Council to Vote on Spurs Arena Funding
Mayor Proposes Pause on Spurs Arena Funding Decision
San Antonio Mayor Urges Delay on Arena Funding Vote
Mayor Calls for Delay on Spurs Arena Funding Vote
San Antonio Mayor Calls for Economic Study on Arena Funding
Additional Resources
- KSAT News
- Wikipedia: San Antonio Spurs
- Spectrum Local News
- Google Search: Spurs new arena
- KENS5 News
- Google Scholar: San Antonio Spurs arena impact
- Fox San Antonio
- Encyclopedia Britannica: San Antonio Spurs
- Express News
- Google News: Spurs new arena
Author: STAFF HERE SAN ANTONIO WRITER
The SAN ANTONIO STAFF WRITER represents the experienced team at HERESanAntonio.com, your go-to source for actionable local news and information in San Antonio, Bexar County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Fiesta San Antonio, San Antonio Stock Show & Rodeo, and Dia de los Muertos. Our coverage extends to key organizations like the Greater San Antonio Chamber of Commerce and United Way of San Antonio and Bexar County, plus leading businesses in retail, insurance, and energy that power the local economy such as H-E-B, USAA, and Valero Energy. As part of the broader HERE network, including HEREAustinTX.com, HERECollegeStation.com, HEREDallas.com, and HEREHouston.com, we provide comprehensive, credible insights into Texas's dynamic landscape.
