San Antonio, August 19, 2025
News Summary
The City Council of San Antonio is set to discuss a term sheet related to Project Marvel, a proposed $1.3 billion downtown arena. The plan suggests a financial commitment of $2.1 billion from the San Antonio Spurs and Spurs Sports & Entertainment, with contributions from Bexar County and the City of San Antonio. Divided opinions within the Council have emerged, with some members supporting immediate action while the mayor advocates for a delay to ensure further economic analysis and public input before a critical November vote.
San Antonio
Spurs push forward with Project Marvel as City Council prepares to consider funding term sheet
City leaders are scheduled to consider a term sheet for a proposed downtown arena known as Project Marvel at an upcoming City Council meeting on Thursday. The term sheet outlines financial commitments and conditions for building an estimated $1.3 billion arena and related development. The vote and any council action will affect the timetable and structure of funding negotiations, including a separate county ballot measure slated for November.
Key facts at a glance
- The San Antonio Spurs and Spurs Sports & Entertainment indicate a total financial commitment to the arena project of $2.1 billion.
- The term sheet allocates contributions toward the arena cost as: Spurs: $500 million; Bexar County: up to $311 million (pending voter approval in November); City of San Antonio: up to $489 million.
- The Spurs have stated they will cover 100% of construction cost overruns and describe the package as having no tax impact on San Antonio families.
- The broader proposed development could produce about $1.4 billion in hotels, offices, housing and retail within a tax increment reinvestment zone (TIRZ) by 2042.
- The Spurs have offered a community benefits agreement valued at $75 million over 30 years, increased from an earlier $60 million proposal.
Council split and mayor’s request for delay
The City Council is divided on whether to move ahead immediately or wait for additional analysis and public engagement. Five council members asked the city manager to place the term sheet on the agenda for the Thursday meeting. The mayor has asked the city manager to postpone consideration until a new independent economic impact analysis can be completed and public meetings held to collect constituent feedback. During an August 6 meeting, most council members preferred continuing negotiations with the Spurs rather than delaying the process.
Analysis and transparency concerns
Previous economic studies prepared by consulting firms CSL International and Stone Planning LLC have drawn criticism for limited transparency and detail. Additional scrutiny has focused on CSL International’s association with Legends, a firm that is a partial owner of the Spurs, raising potential conflict-of-interest concerns among some stakeholders. The mayor’s request for an independent analysis aims to address those transparency and conflict concerns before the council finalizes commitments.
Why the November vote matters
Bexar County’s contribution of up to $311 million requires voter approval on a November ballot measure. The county vote will determine whether that portion of the funding is available, which in turn will affect the overall financial structure and whether alternative funding or adjustments will be needed. Council members say they want to provide clear information to the public ahead of that ballot measure.
Project scope and community provisions
Beyond the arena itself, the proposed development envisions adjacent private and public investments that the city estimates could produce roughly $1.4 billion in new hotels, offices, housing and retail within a TIRZ by 2042. The Spurs’ community benefits package has been increased to $75 million spread over 30 years, and the organization has committed to handling any construction overruns associated with the arena portion of the project.
What happens next
The City Council’s action on the term sheet at the Thursday meeting will determine whether the city formally accepts the proposed financial framework now, seeks additional analysis and public input, or asks Spurs Sports & Entertainment to revise the deal. The outcome will also shape negotiations with Bexar County and the timeline leading into the November ballot measure.
Context
Arena proposals and public-private partnerships are frequently accompanied by debate about public costs, long-term economic benefits, transparency of consultant work, and accountability for cost overruns. This project joins earlier municipal development efforts in prompting council-level division about timing, independent review and the level of public participation before committing municipal funds.
Key financial breakdown
| Contributor | Planned Contribution (up to) | Notes |
|---|---|---|
| Spurs Sports & Entertainment | $500,000,000 | Part of the organization’s stated $2.1B total commitment |
| Bexar County | $311,000,000 | Requires voter approval in November |
| City of San Antonio | $489,000,000 | Up to this amount per term sheet |
| Estimated arena cost | $1,300,000,000 | Projected construction cost for the arena itself |
Timeline
| Date / Time | Event | Status / Source |
|---|---|---|
| August 6 | City Council meeting where mayor’s call for delay lacked majority support | City Council proceedings |
| Upcoming Thursday | Planned City Council discussion of the term sheet | Agenda item scheduled |
| November (ballot) | Bexar County voter approval vote on funding contribution | County ballot measure |
| By 2042 | Estimated buildout of TIRZ producing up to $1.4B in development | City projections |
Funding share visual
FAQ
What is Project Marvel?
Project Marvel is the name given to the proposed downtown arena development led by the San Antonio Spurs and Spurs Sports & Entertainment, centered on an estimated $1.3 billion arena and surrounding commercial and residential development.
How much will the arena cost and who pays?
The arena is expected to cost about $1.3 billion. The term sheet under consideration allocates contributions of $500 million from the Spurs, up to $311 million from Bexar County pending voter approval, and up to $489 million from the City of San Antonio.
Will taxpayers be responsible for cost overruns?
The Spurs have committed to cover 100% of any construction cost overruns related to the arena portion of the project, according to the terms outlined by the organization.
Why is the mayor asking for a delay?
The mayor has requested postponement of consideration of the term sheet until an independent economic impact analysis is completed and public meetings are held, citing concerns about transparency and the need for additional public input.
What is the timeline for approval?
The City Council is scheduled to discuss the term sheet on Thursday; Bexar County funding requires voter approval on a November ballot. Any council decision could alter the timing of the project and subsequent negotiations.
Deeper Dive: News & Info About This Topic
HERE Resources
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
San Antonio City Council to Vote on New Spurs Arena
San Antonio Council Prepares for Vote on Downtown Arena Project
24-Year-Old Arrested for Threatening San Antonio Mayor
Additional Resources
- Express News – Spurs Arena Vote Delay
- Wikipedia: San Antonio Spurs
- iHeart – Spurs Arena Image
- Google Search: San Antonio Spurs Arena
- KSAT – San Antonio City Council Vote
- Google Scholar: San Antonio Spurs Arena Project
- Spectrum Local News – City Council Vote on New Spurs Arena
- Encyclopedia Britannica: San Antonio Spurs
- KENS 5 – Spurs Arena Build Timeline
- Google News: San Antonio 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.
