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TALKS OF NEW ARENA IN SAN ANTONIO "PREMATURE"
Published July 6, 1995
Spurs President Jack Diller said yesterday that talk of the team wanting its own arena was "premature," according to today's SAN ANTONIO EXPRESS-NEWS. San Antonio Mayor Bill Thornton also "continued to insist" that the Alamodome should be the team's home. Spurs Chair Robert McDermott, who was quoted Wednesday calling the dome "unsuitable," said he "didn't have a time frame" on needs for a new arena, nor whether it would have to be publically financed. McDermott: "In other cities, it has been attractive to private investors. Hopefully, it will be here, too." Rumors the team would relocate if not given a new arena were also downplayed by one Spurs investor, USAA Property Holdings. In a statement issued by the company: "As an investor, USAA remains committed to keeping the Spurs in San Antonio and we believe the franchise can operate successfully in the Alamodome for the forseeable future." Mayor Thornton said he asked Diller two weeks ago whether his goal was "financial security or construction of a new arena." Thornton: "His answer was quick and clear: Their goal was to make the team financially secure based on regular-season revenue" (SAN ANTONIO EXPRESS- NEWS, 7/6). In a release, Diller said, "Spurs management is currently working with city officials to try to find ways for the Spurs to remain financially viable in the Alamodome. Until every such avenue has been fully explored it would be premature to discuss the need for any alternative facility" (Spurs).