SAN ANTONIO — A new arena for the San Antonio Spurs continues to air ball as the city’s newly elected mayor pushes back on the project.
The San Antonio City Council will vote on two resolutions on Thursday that will affect what is being called Project Marvel and the Spurs’ new downtown arena, according to a release from the City of San Antonio.
This comes after Mayor Gina Ortiz Jones urged the city council to consider voting on postponing Project Marvel in lieu of a new financial analysis of the arena and for the council to host at least two meetings with their constituents.
A term sheet, which lays out how the arena would be paid for and operated, was produced by Spurs Holdings, LLC, and is expected to be voted on before the end of the month. Details of the term sheet have not been released publicly.
Recently elected Ortiz Jones has been pushing for an independent study of the project to assess the economic impact, despite opposition from most of the city council.
Jones has also pushed the Spurs to consider sharing a portion of the NBA franchise’s revenue with the city.
The proposed $4 billion downtown arena and entertainment district has the following financial proposals from the Spurs, city and county commissioners:
San Antonio Spurs: $500 million
Bexar County Commissioners: $311 million
City of San Antonio: $489 million