Austin's Spurs fans sick of I-35 traffic could soon rejoice as the NBA franchise plans to play a few of its home games out of San Antonio and possibly in Austin starting next season.
The San Antonio Spurs were approved in a 3-2 vote to move some of its games out of San Antonio and its current home stadium, the AT&T Center, to boost revenue and cater to its far-reaching fan base after a Bexar County commissioner's meeting on Tuesday.
The county, which owns the stadium, said the Spurs could move three of its home games in the 2022-2023 season and four games in the next season.
One game will be allowed within 100 miles of AT&T Center next season—opening up the possibility for a game at Austin's new Moody Center—alongside one international game in Mexico City or Monterrey, according to Bexar County Judge Nelson Wolff.
Two extra games will also take place within 10 miles of the stadium, which includes Spurs' former Alamodome home base.
By 2023-2024, two games will be allowed within the 100-mile radius as part of the two year "pilot program". Wolff said those games could take place in the Alamodome or San Marcos but that Austin would likely be the top contender.
"They (Spurs) want to go to Austin and have a game. I know that,” Wolff told KSAT. “They figure that they can draw more people down there if they did that.”
AUSTIN TX AUSTIN SPURS#PorVidapic.twitter.com/2tE5Kegb6E
— Austin Spurs (@austin_spurs) April 5, 2022
The Spurs already have a significant Austin presence both through their minor league affiliate, the G-League Austin Spurs, and its ownership, which announced Austin billionaire Michael Dell as a new “strategic partner" in June 2021.
The team, which is celebrating 50 years in San Antonio after relocating from Dallas, said it is not looking for an exit but hopes to boost its revenue after stumbling sales amid the pandemic. While average home attendance plummeted to 27th among the 30 NBA teams this season, the team has a pricey non-relocation agreement through the 2031-2032 season and has recently embarked on a $500 million mixed-use facility in San Antonio's La Cantera area.
“We believe San Antonio is uniquely positioned from a cultural, geographic and economic standpoint to serve as the anchor for this region,” Spurs CEO R.C. Buford said. “San Antonio has been home for five decades and the organization will continue to innovate, positioning the Spurs to thrive in San Antonio for the next 50 years.”
Bexar County commissioners are poised to consider the new amendment to the county's non-relocation agreement on Tuesday.
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Elon Musk has proposed once again to buy Twitter for $54.20 a share.
The news that Musk is offering to carry on with the $44 billion buyout was first reported by Bloomberg. Now, a filing with the Securities and Exchange Commission shows Musk made the proposal in a letter to the tech giant on Monday.
The New York Stock Exchange temporarily halted trading in Twitter stock twice Tuesday, first because of a big price move and the second time for a news event, presumably the announcement of Musk's renewed offer.
While the per share offer price on this latest proposal remains the same as the original offer, it’s unclear if Musk has made other term changes or if Twitter would reject it. According to other reports, a deal could be reached this week.
The stock closed at $52.00/share Tuesday, indicating market uncertainty around the $54.20 offer.
After Musk informed Twitter of plans to terminate the original agreement in July, Twitter sued. A trial has been expected in Delaware Chancery Court on Oct. 17.
With the proposition of a buyout on the table again, it revives the question of whether Musk might move Twitter from San Francisco to Central Texas.
He’s done so with some of his other companies. Tesla’s headquarters in southeast Travis County had its grand opening earlier this year and tunneling business The Boring Company moved to Pflugerville. At least two other Musk companies, SpaceX and Neuralink, have a Central Texas presence without being headquartered here.
Technology journalist Nilay Patel this afternoon voiced concerns that owning Twitter and Tesla together could be problematic for Musk, as his Tesla manufacturing facilities in Germany and China are both in countries that have disputes with Twitter over content moderation and censorship.
Telsa shares fell after the Twitter news became public, before rallying to close up, at $249.44.
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While searching for a place to live, Austin renters will face monthly rates of nearly $3,000, a recent guide from rental marketplace Dwellsy shows.
The median rent in August this year was $2,930, a more than 86% increase since August 2021. That’s $820 more than the nationwide median asking rent in August and puts Austin just below the Bay Area, Boston and New York for large cities with the most expensive asking rent.
“Within this group, Austin, TX stands out for the highest increases in asking rent, which has nearly doubled since this time last year,” the study notes.
Outside of those large cities, however, others are seeing even higher rent spikes. Metro areas that ranked above Austin in one-year increases include those like Kansas City, MO with a 112% change in rent since last August and Tucson, AZ with a 124% change.
The data reflects large apartment communities, single-family homes and 2-6 unit buildings.
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