Spurs Receive $311 Million Development During NBA Season

Spurs and City Commit Big to the Future

The team has pledged to contribute at least $500 million toward the construction and to cover any cost overruns that may arise. They will also pay rent at the new arena, which will help offset the city’s proposed $489 million contribution.

Spurs chairman Peter J. Holt expressed excitement after the results were announced, saying the project will bring together the city, the rodeo and the community in a shared space that represents San Antonio’s growth and passion.

“We love this city, we love this county, and the county and the city love us back,” Holt said after the results came in.

Along with the arena itself, the Spurs have committed to driving $1.4 billion in private development around the new site. This includes hotels, restaurants and other entertainment spaces meant to attract fans and tourists year-round.

A Long-Term Vision for the City

The funding comes through venue taxes primarily paid by visitors via hotel stays and car rentals, which means residents will not see an increase in property taxes. That factor played a key role in convincing voters to support the plan. County officials said that the measure was tight heading into Election Day, with polls showing mixed opinions on using public funds for sports facilities.

Still, the Spurs’ message of economic growth and community benefit ultimately resonated. The project will not only secure the team’s presence in San Antonio but also create jobs and drive downtown revitalization.

Mayor Gina Ortiz Jones, while supportive of the team, has stated she wants further analysis of the city’s portion of the funding. As of now, there is no timeline for construction, with the team still in early design stages.

More Than Just Spurs Basketball

The Spurs’ new arena is also expected to help strengthen San Antonio’s chances to host major events, from concerts to rodeos. A separate measure approved by voters allows about $200 million in additional funding for expanding rodeo facilities, highlighting how the city is leaning into its entertainment and cultural roots.

For the Spurs, this move shows more than just a new home. After several rebuilding seasons, the organization is finding new life both on and off the court, with young stars like Victor Wembanyama leading the charge. The franchise is showing that its future in San Antonio is not only secure but ready to shine brighter than ever.

Listing: Key Project Details

• Public funding: $311 million from venue taxes
• Spurs investment: $500 million minimum commitment
• Additional private development: $1.4 billion
• Lease expiration: 2032-33 season
• Construction status: Early design phase