HOUSTON, Texas– The City of San Antonio, Bexar County, and the San Antonio Spurs have entered into a Memorandum of Understanding (MOU) to explore the construction of a new arena in downtown San Antonio.
The agreement, signed by city and county officials alongside the Spurs organization, marks the first step toward potentially relocating the Spurs to a new sports and entertainment district designed specifically for their needs.
The MOU outlines a framework for discussions between the parties and sets a timeline for when funding plans for the new arena will be publicly shared.
Local leaders are expected to present financial commitments for the project in a public forum by July 2025, offering transparency on the financial structure.
Estimates for the cost of the new arena range from $1.2 billion to $1.5 billion.
The project envisions a state-of-the-art facility that will not only serve as the home for the Spurs but also host concerts, exhibitions, and other major entertainment events.
Spurs CEO RC Buford expressed appreciation for the partnership and emphasized the potential economic and social benefits of the proposed arena.