about 12 hours ago

San Antonio Approves Term Sheet for $1.3–1.5B Spurs Arena

City Council voted 7–4 to advance a non-binding agreement for a new downtown arena. The Spurs pledged at least $500M plus cost overruns, while Bexar County would add $311M or 25% pending voter approval of a venue tax. San Antonio’s $489M or 38% share would come via city bonds repaid through revenue streams, contingent on guaranteed Spurs development plans.