Overview
- Spurs Sports & Entertainment CEO R.C. Buford published an open letter on Aug. 4 defending the draft financing plan and saying a second citywide vote is unnecessary because prior votes and commitments have already advanced the project.
- Mayor Gina Ortiz Jones has asked the council to place a referendum on the Nov. 3 ballot about the city’s $489 million share and must secure five council votes by Aug. 17 to do so.
- Under the current draft, the city would provide up to $489 million, Bexar County voters approved $311 million last November, and the Spurs pledged $500 million plus responsibility for any cost overruns and $2.5 million per year in lease payments.
- A key legal dispute centers on whether the city can use visitor-based revenue for the contribution; the Spurs say those funds are restricted to tourism projects but reporting notes that restriction clearly applies only to the state portion of hotel taxes.
- Council members who backed last year’s draft plan say another vote would be redundant and could drain city resources while officials negotiate a final non-binding term sheet by year-end that would shape benefits for neighborhoods and city services.