Spurs Sports & Entertainment has "confirmed it’s in negotiations with the city and other parties on an 'economic development project'" at the Institute of Texan Cultures site at Hemisfair -- a "downtown location that has been floated for months as a potential site for a new arena for the NBA franchise," according to Madison Iszler of the SAN ANTONIO EXPRESS-NEWS. SS&E said that the financial terms and “other incentives” for the unspecified project “are still being negotiated.” It also said that it "has 'taken measures' to keep information about the project secret, only sharing it on a 'need-to-know basis with a limited number of individuals' within the organization.” In a similar letter, it said that it "continues internal dialogue to deliberate on the project’s viability, economic impact and available options" and "will eventually make recommendations and propose final agreements to the City Council." The city "has been working quietly since last year" to move the Spurs to “a location in the center city as part of an effort to revitalize downtown.” If plans for a downtown arena for the Spurs move ahead, it “likely would hinge on public financing, which could require approval from voters depending on the type of financing.” Iszler noted that a new facility could cost $1B “or more.” Supporters of the idea of the Spurs returning to downtown said that the facility “would be close to bars, restaurants, hotels and other entertainment, drawing and keeping attendees in the area for longer.” But critics point to research that shows professional sports facilities “spur little economic activity” and “question whether the amount of subsidies provided is worth it” (SAN ANTONIO EXPRESS-NEWS, 4/17).
