Spurs Sports & Entertainment has pledged more than $1 billion to Project Marvel, a redevelopment initiative centered on constructing a new arena in downtown San Antonio.
The organization announced that $500 million of this total will be allocated specifically for building the new venue, which is intended to replace the AT&T Center.
Plans include reserving 500 tickets per home game at $25 or less and offering opportunities for local businesses to participate in construction contracts. These measures are intended to improve affordability and stimulate local economic participation.
The project is still under review by city and county officials. Discussions are ongoing between Spurs Sports & Entertainment, the City of San Antonio, and Bexar County to determine funding responsibilities and finalize development agreements.
Officials have indicated that additional public meetings and stakeholder consultations will be held to gather input and address community questions.
If approved, the new arena is expected to serve as the primary home for the San Antonio Spurs and other events. Adjacent development projects may include mixed-use facilities, public spaces, and transportation improvements.
Project Marvel represents one of the largest proposed private-public investments in San Antonio’s downtown in recent years. Its future will depend on the outcome of negotiations, public input, and final decisions by government entities involved in the approval process.