As the Spurs continue to push for a new arena as part of a larger downtown San Antonio development project known as Project Marvel, they reaffirmed their commitment in a letter to the city, promising a contribution of over $1 billion to help pay their share. In his letter to the city, Spurs Sports & Entertainment CEO Peter J Holt said the following:

Since the City of San Antonio first approached our organization about a potential partnership, the San Antonio Spurs have remained committed to pursuing an equitable agreement that benefits our community as a whole, strengthens our economy, honors our city legacy, and serves generations to come without raising taxes on local residents. As we have done since 1973, we are operating in good faith, grounded in deep love for our community and a s

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