SAN ANTONIO – San Antonio City Council members are preparing for a pivotal meeting this week as conflicting resolutions emerge that could reshape the city’s negotiations with the San Antonio Spurs over Project Marvel, a proposed $4 billion downtown arena and entertainment district.

The new resolution, introduced by council members around 8:30 a.m. Monday, aligned with the majority, would authorize City Manager Erik Walsh to complete negotiations and execute a non-binding term sheet with Spurs Holdings, LLC. The measure is designed to counter Mayor Gina Ortiz Jones’s push for a delay and an independent economic study of the project.

RELATED: Mayor Ortiz Jones seeks to delay Project Marvel deal after term sheet finalized

The mayor is pushing for an independent study to assess the economic impact of the project, despite opposition from the majority of the city council, while the city council had already agreed on a term sheet to advance Project Marvel, with a vote scheduled for later this month.

The conflict has reportedly frustrated the Spurs, who believed the negotiations had been finalized. Supporters of the new resolution argue that moving forward is critical, especially with two upcoming tax votes — a hotel and rental car tax this November and an infrastructure tax in the spring — that will determine whether the project ultimately proceeds.

RELATED: San Antonio and Spurs finalize term sheet for ‘Project Marvel’, City Council to vote soon

The San Antonio Spurs recently announced that they are committing over $1 billion dollars to help pay for Project Marvel and a new downtown arena. Details of their investment includes:

San Antonio and Spurs finalized a term sheet, which the city council could vote on Thursday.

Under the framework, the Spurs would contribute at least $500 million and cover all cost overruns, while the City would provide up to $489 million through bonds tied to lease revenue, ground rent, tax increment funds, and a Project Finance Zone. Bexar County’s share, up to $311 million, depends on voter approval of a venue tax election set for Nov. 4.

Earlier this month, Bexar County Commissioners decided to place a venue tax question on the Nov. 4 ballot, allowing voters to determine if the county will contribute funds for the project.

Beyond sports, the plan emphasizes community benefits and local engagement. The Spurs will contribute $2.5 million annually toward city programs, support small businesses and workforce development, and integrate local contractors and suppliers into the arena’s construction. Phased development over the next decade aims to align the new facilities with broader downtown growth, transforming San Antonio’s skyline and civic life.

If approved, construction could take nearly five years, with the new arena opening by the 2032–33 NBA season. The Spurs would sign a 30-year lease and a non-relocation agreement, while also committing $75 million toward community programs over the lease term.

The term sheet includes various commitments from the Spurs organization, including emphasizing the limited cost to homeowners and other involved parties.

According to the San Antonio Spurs, the term sheet commitments include:

$500 million Spurs direct contribution toward the $1.3 billion arena costSpurs cover 100% of any and all cost overruns$1.4 billion Spurs guarantee, alongside private developers, in private development projects to create jobs and enhance family entertainment opportunities$75 million Spurs Community Benefits Agreement over the 30-year lease term$2.1 billion total Spurs commitment all-in (arena contribution, overruns, private development guarantees and community benefits)No cost to San Antonio homeowners or renters – because the financing structure doesn’t rely on property taxes or even sales taxesNo money diverted from the city’s general fund$489 million City contribution$311 million County contribution

“We’re pleased to take this next step in the process, which will ultimately give the voters the opportunity to decide on the arena project this November,” said RC Buford, CEO, Spurs Sports & Entertainment. “As part of the proposed term sheet, the Spurs’ total commitment will be $2.1 billion. What has been consistent throughout this process is our commitment to ensure no tax impact on San Antonio families and our assurance to cover 100% of any and all construction cost overruns.

PROPOSED TERM SHEET BETWEEN CITY AND SPURS