The Spurs reinforce their investment in Project Marvel, ensuring no tax impact on families and covering all construction overruns.
SAN ANTONIO — The San Antonio Spurs have released their updated Term Sheet commitment, which ups their total investment in Project Marvel overall, including the proposed new downtown Spurs arena.
According to the Spurs, changes in their Term Sheet reflect the progress made once all parties, including city staff, the county and the Spurs, had the opportunity to work together at the negotiating table.
The term sheet, the team says, also continues a transparent process with the City Council and the community, viewing the term sheet as an early step towards a shared goal.
Here is the revised Spurs term sheet:
Here’s the Spurs Term Sheet summary…. #nba #porvida #sanantonio #gospursgo pic.twitter.com/1DVvHCghpY
— JeffGSpursKENS5 (@JeffGSpursZone) August 18, 2025
In addition, Spurs’ RC Buford released a statement on the process, highlighting the franchise’s commitment and eagerness to see the city thrive.
“We’re pleased to take this next step in the process, which will ultimately give the voters the opportunity to decide on the arena project this November. As part of the proposed term sheet, the Spurs total commitment will be $2.1 billion. What has been consistent throughout this process is our commitment to ensure no tax impact on San Antonio families and our assurance to cover 100% of any and all construction cost overruns. From our very first conversations with city leaders, this has always been about more than a venue. It’s about building a place that fosters opportunity, creates lasting memories and ensures San Antonio continues to thrive for generations to come.
We’re grateful to the San Antonio City Council, City Manager Erik Walsh, Judge Peter Sakai and the Bexar County Commissioners for the time and commitment they’ve invested in this process. Their leadership has been invaluable in helping us reach this milestone and we look forward to continuing this work together on behalf of the people of San Antonio and Bexar County.”
For more information on the term sheet, Project Marvel and more, click here.
You can also check out the latest Locked On Spurs episode with Spurs Sports & Entertainment’s Andrew Solano.
COACHING ADDITIONS AND PROMOTIONS
The Spurs announced additions and promotions within the team’s coaching staff. The Spurs have added Sean Sweeney as associate head coach (formerly with the Mavericks), as well as Corliss Williamson and Scott King (former head coach of the Austin Spurs), as assistant coaches.
In addition, Tim Martin (Victor Wembanyama’s long-time coach) joins the Spurs as assistant coach/player development, with Jimmy Baron and Josh Brannon, who is being promoted to assistant coach/player development as well.
The Spurs also announced that former NBA player Rashard Lewis will join the Spurs’ player development staff. At the same time, Andrew Weatherman becomes a coaching analyst and Madison Clower will now serve as a player development analyst.
Matt Nielsen and Mike Noyes will return as assistant coaches next season, while Brett Brown has chosen to transition from coaching to a front office role.