The San Antonio Spurs' proposed downtown arena would with a $1.2 billion price tag, the Express-News reported Friday, citing anonymous people familiar with the matter.
The Spurs are reportedly offering to cover a fifth of the cost, leaving the city and county to arrange the rest.soon-to-be-demolished Institute of Texan Cultures
Spurs Sports & Entertainment is willing to cough up about $240 million for the arena, with the remaining costs left to the city and county, sources told theTo help foot the bill, Spurs execs are eyeing revenue from a recently passed city-controlled downtown sales tax zone dedicated to convention centers and pro-sports facilities, the daily reports. However, that tax is only projected to yield around $200 million. What's more, the revenue is expected to go toward maintaining the Henry B.
"Sometimes the investment you get near this new facility is an investment that is already in town," Smith College sports economics prof Andrew Zimbalist told thelast fall."What happens is a restaurant or whatever moves from location A to location B to try to take advantage of the activity around the sports stadium to get more business."
Second Most Expensive Arena In Nba Hemisfair Institute Of Texas Cultures Sports District Economics San Antonio Sports News
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