Spurs Get the Green Light for New Arena

The San Antonio Spurs are on the verge of a significant transformation as city residents have approved a crucial ballot measure for a new arena. In a recent election, 52.5% of voters backed the $1.3 billion funding plan aimed at constructing a state-of-the-art venue next to the Alamodome and Convention Center in downtown San Antonio.

According to reports from Jared Weiss of The Athletic, a total of 246,710 voters participated in the election, signaling strong community support for the project. The financial backing will come from a combination of city and Bexar County venue taxes, while the Spurs organization has pledged to contribute $500 million towards the initiative.

“We love this city, we love this county, and the county and the city love us back,” expressed Peter J. Holt, chairman of Spurs Sports and Entertainment, after the vote was announced.

In August, the San Antonio city council approved the framework for the arena deal, and construction is projected to commence in the second quarter of 2026 and conclude by mid-2028. This timeline is significant as the Spurs currently have a lease with Frost Bank Center, where they have played since the 2002-03 NBA season, that runs until September 30, 2032. If the Spurs were to vacate the arena before September 30, 2028, they would owe Bexar County $100 million, a penalty that decreases annually by $6 million.

The Spurs have enjoyed a successful run in Frost Bank Center, winning four of their five championships during their tenure there. Recently, there has been a wave of optimism surrounding the franchise, largely due to the impressive performance of Victor Wembanyama. The 21-year-old rookie has emerged as a potential MVP candidate, leading the team to a promising 5-1 start this season.