Peter Holt, managing partner of the San Antonio Spurs, recently shared a statement on NBA.com regarding an ambitious proposal for a new downtown arena estimated at $1.3 billion.
According to Holt, the Spurs organization has committed $500 million toward the project and has also pledged to cover any unexpected overruns that may arise during construction.
On the public side, the City of San Antonio has agreed to contribute up to $489 million.
Earlier this week, the city council voted to approve moving the project forward, though its ultimate fate will be decided by Bexar County residents when it appears on the ballot in November.
Holt described the effort as a genuine public-private partnership, emphasizing that the facility would be owned by the public, financed primarily through visitor-generated revenue, and designed to serve as a catalyst for downtown revitalization.
Beyond the economic benefits, he stressed the arena’s role in creating jobs, energizing the community, and providing a gathering place for future generations to celebrate and connect.
Texas Notes: Irving, Mavericks' Arena, Spurs' Arena, Rockets https://t.co/ZhzSsjBTt0 pic.twitter.com/woT7W5ZZtA
— Hoops Rumors (@HoopsRumors) August 24, 2025
