November 5th - Yahoo Sports reports: The San Antonio Spurs' plan to build a new arena in downtown San Antonio has been approved by voters in Bexar County.
The Associated Press reports that Bexar County voters recently approved a proposal pledging up to $311 million in public funds to build a new arena for the San Antonio Spurs in downtown San Antonio. The Spurs' current lease at the Frost Bank Center expires at the start of the 2032-33 season.
Bexar County officials stated that over 52% of voters supported the measure, but it has faced strong opposition from some legislators and other groups.
The Spurs have indicated they will invest at least $500 million in the arena construction and cover all cost overruns—which could be substantial. They will also pay the rent for the new arena, which will help offset the $489 million in funding the city government is proposing.
Another part of the plan is that the Spurs have committed to approximately $1.4 billion in private development projects around the new arena. Additionally, another bill passed on Tuesday could prompt San Antonio to host more rodeo performances—legislators can now allocate approximately $200 million for this purpose. The Spurs offered voters a simple reason: arena taxes will primarily be paid by local visitors through hotel and car rental bills, not increasing property taxes for San Antonio residents, and according to state law, the funds can only be used for projects like arenas.
Currently, there is no specific construction timeline. Spurs executives stated that the new arena is "still in the early design phase," and the lease on the team's current home, the Frostbank Center, expires in 2032. The initial plan is to begin design and land leveling in 2026, break ground in 2027, and have the NBA season open in 2032, with a total construction period of 57 months. The entire project is estimated to cost between $3 billion and $4 billion, led by the Spurs with coordination from the city government.
