San Antonio City Council tentatively agrees to funding deal for new Spurs arena

San Antonio City Council voted 7-4 Thursday in favor of moving forward with a term sheet negotiated between City Manager Erik Walsh and Spurs Sports & Entertainment (SS&E) that lays out financing for a new downtown Spurs arena. Mayor Gina Ortiz Jones, District 6 Councilman Ric Galvan, District 5 Councilwoman Teri Castillo and Interim District 2 Councilman Leo Castillo-Anguiano voted against the measure. Under the non-binding term sheet, the city is on the hook for $489 million for a new arena.