SAN ANTONIO — The San Antonio Spurs have announced a substantial financial commitment to the development of a new sports and entertainment arena, pledging $500 million for the arena itself and an additional $500 million for other downtown developments.

Related: A generational investment: city council weighs Spurs contribution offer

This brings the franchise’s total investment to $1 billion, with a promise to cover any cost overruns during construction.

Related: Spurs commit over $1 Billion to Project Marvel, new arena, downtown revitalization

San Antonio Mayor Gina Ortiz Jones expressed enthusiasm about the offer but said the need to consider the best deal for the estimated $3 to $4 billion Project Marvel. She raised questions about the financial aspects of the deal, including the Spurs’ potential revenue from naming rights, merchandise, ticket, and concession sales.

“We certainly don’t want to make assumptions about what we could or could not get, which is why I asked the questions,” said Mayor Jones. “When you say, you know, entity X gets all of it, well, what’s all of it again? Because I’m looking at 2030 we got 220 million gap in our general fund budget. So I think you know how we can think about this, not only in terms of how we pay for it, but how we can help ourselves with a general fund.”

Mayor Jones is not alone in her skepticism. Other council members are also questioning the revenue-sharing arrangements with the Spurs organization.

“Why do they have to get all of it? I understand that has kind of been the norm, but, you know, it’s a negotiation for a reason. So why wouldn’t we ask?” said Mayor Jones.

Related: San Antonio residents voice opinions on Project Marvel at city meeting

Council member Jalen McKee Rodriguez added, “I do need the Spurs to do more. The will for this arena is not here right now and if we do not contribute, this arena does not happen.”

Mayor Jones emphasized the importance of negotiation in this significant investment. “We don’t do this every day, right? This is a generational investment, and now is the time to negotiate and now is the time to get some answers to these questions,” she said.

The city is still working to determine whether the Spurs’ offer will be enough to persuade voters to approve the necessary public funding from the county and city to make Project Marvel a reality. The story is still developing, and further updates are expected.