SAN ANTONIO – The City of San Antonio, Bexar County and the Spurs signed a memorandum of understanding (MOU) on Friday, taking an important step toward a new Spurs arena and a sports and entertainment district downtown, according to a press release.
The MOU shows the city, county and the Spurs’ desire to accomplish the downtown development while working together, the release stated.
“This agreement to pursue a downtown sports and entertainment district that includes the Spurs represents a shared commitment to the future of our community,” San Antonio Mayor Ron Nirenberg said.
The sports and entertainment district also includes restaurants, shops and residential areas in hopes of boosting San Antonio’s economy. The release mentioned that it would be easily accessible for the community.
The news release stated that the sports and entertainment district will include the expansion of the Henry B. González Convention Center, a new convention center hotel, a bridge over Interstate 37 connecting the East Side to downtown, Alamodome improvements, John Wood Courthouse renovations and other developments.
“I am happy that we have worked together to finalize this MOU. We are looking forward to a potential November venue tax election to allow voters to voice their opinion on the new Spurs arena, which is the only component of Project Marvel involving Bexar County,” Bexar County Judge Peter Sakai said.
RC Buford, the CEO of the Spurs, called it an “exciting project” to boost the economy and “position San Antonio for long-term success.
“This process allows us to purposefully evaluate how an arena in the heart of a thriving entertainment district can drive new economic opportunities, local business growth and increased tourism revenue, all of which benefit our entire region,” Buford said in a statement, in part.
Buford added that the team will continue working closely with local leaders, businesses and the community.
The Spurs have played at the Frost Bank Center, formerly the AT&T Center, since 2002. The team’s lease at the arena expires in 2032, according to the release.
BACKGROUND
The new San Antonio Spurs arena could cost $1.2 billion to $1.5 billion, according to a city estimate, but there is still no breakdown of how it will be paid for.
The city has estimated costs for about half the projects in its vision for Project Marvel, including the arena.
The combined price tag currently exceeds $2.75 billion, though the final cost will likely be higher, since several of the listed projects don’t even have cost projections: a “revised” plan for the Alamodome, a new land bridge across IH-37, the acquisition of a former federal courthouse, and the related infrastructure needed to support the district.
City staff have laid out possible funding sources, both public and private, for each portion of the project. However, the exact breakdowns — especially for projects drawing money from multiple places — remain unclear.
The city and Spurs began quietly discussing a downtown move in early 2023, though the city did not unveil its Project Marvel plans until November 2024.
In February 2025, City Manager Erik Walsh received the greenlight to initiate negotiations with Bexar County and the San Antonio Spurs for the billion-dollar Project Marvel sports and entertainment district.
In addition to the approval, council members and Nirenberg approved an amendment to the original memorandum to allow District 1 Councilwoman Sukh Kaur and District 2 Councilman Jalen Mckee-Rodriguez to join Walsh during negotiations.
The argument for the amendment was centered around the Spurs’ future arena being moved from the East Side to downtown San Antonio, and Kaur and McKee-Rodriguez represent those areas.
On Wednesday, the San Antonio Conservation Society filed a lawsuit against UTSA and the city to halt demolition for a property in Project Marvel’s sights.
UTSA received permission from the Texas Historical Commission to demolish the former Institute of Texan Cultures building, but the conservation society claims that plans have proceeded without a required federal review process.
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