The San Antonio Spurs will commit over $1 billion to help pay for a new downtown arena as part of Project Marvel. The franchise sent a letter to the Mayor and City Manager with details of their investment.
The financial commitment includes $500 million for a new arena with guaranteed coverage of cost overruns, as well as $500 million in adjacent private downtown development. The total project could cost up to $4 billion.
In a letter sent to City Manager Erik Walsh, Spurs Sports & Entertainment Chairman Peter J. Holt said:
“Since the City of San Antonio firs approached our organization about a potential partnership, the San Antonio Spurs have remained committed to pursuing an equitable agreement that benefits our community as a whole, strengthens our economy, honors our city legacy, and serves generations to come without raising taxes on local residents. As we have done since 1973, we are operating in good faith, grounded in deep love for our community and a sincere desire to help San Antonio thrive.”
The Spurs will continue playing at the Frost Bank Center until their lease ends in 2032. Frost Bank Center opened in 2002 as the Spurs previously played at the Alamodome.
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July 25, 2025 | 10:31 pm
