The county could use the Frost Bank Center venue tax to pay for a new Spurs arena and the renovations but voters would have to approve.
SAN ANTONIO — The San Antonio Spurs could be dribbling towards a new future downtown.
On Tuesday, Bexar County signed a memorandum of understanding (MOU), a non-binding agreement to bring all involved parties to the table to discuss the possibility of a new arena for the Spurs downtown.
The MOU between the City of San Antonio, Bexar County and the San Antonio Spurs aims to accomplish three objectives: Discuss the possibility of a new downtown arena, discuss Project Marvel – the city of San Antonio’s ambitious plan for a downtown sports and entertainment district and renovating and upgrading the existing Frost Bank Center.
The Frost Bank Center is owned by Bexar County.
“I got to make sure that the Frost Bank Center… That it does not turn into the next Astrodome in Houston, Texas,” said Bexar County Judge Peter Sakai. “The county will first protect and defend our county investment. We need to make sure that the Frost Bank Center is upgraded, renovated and retrofitted to whatever it needs.”
The renovations and upgrades to both the Freeman Coliseum and Frost Bank Center could cost an estimated $85 million.
“I have to make sure that the Frost Bank Center is sustainable and viable for the long term,” Sakai said.
The county could use the venue tax to pay for a new Spurs arena and the renovations but voters would have to approve. The MOU also aims to discuss how everything will be paid for.
“This is hotel occupancy and rental car tax,” Sakai stated. “It is not home owner property tax. That’s one of my stipulations to invest in a possible new Spurs arena.”
Sakai explained the county is already engaging in conversations regarding the future of the Frost Bank Center.
“Obviously, we’re going to look at the rodeo as to how they can show the county which owns the property, that they can have a viable and sustainable business plan, that will go over year round,” Sakai said.
The soonest a tax election could happen is November 2025. If it passes, the maximum the county could contribute from it is 450 million.
A new arena for the Spurs is estimated to cost upwards of a billion dollars.