The San Antonio City Council held a special meeting on July 25, 2025, to discuss the ongoing negotiations regarding a new arena project in collaboration with the Spurs and Bexar County. The meeting focused on the financial framework and community benefits associated with the proposed arena, which aims to secure the long-term presence of the Spurs in the city.

City officials outlined the objectives of the funding framework, emphasizing the need to manage financial risks without impacting existing budgetary resources. The Spurs have committed $500 million towards the project, while Bexar County is considering contributing up to $311 million, contingent on voter approval through a potential ballot measure. The city’s contribution is still under discussion, with various financing scenarios being explored.

Key discussions included the Spurs' proposal for community benefits valued at $60 million, which encompasses initiatives in early childhood education, transportation to events, support for local businesses, and community ticket access. The specifics of these benefits are still being negotiated, with a focus on ensuring that the city council has a say in how these funds are allocated.

The council was also informed about the Spurs' financial disclosures, which are limited due to NBA confidentiality rules. The Spurs have indicated that revenue sharing is not feasible given the financial structure of the deal, as they will be assuming significant financial risks.

Looking ahead, the council plans to continue negotiations and will receive updates on the economic impact analysis and community engagement efforts in the coming weeks. A final term sheet is expected to be presented for council consideration on August 21, 2025, which will detail the terms of the agreement, including community benefits and financing arrangements.

The meeting underscored the city's commitment to balancing economic development with community needs as it navigates the complexities of the arena project.