Who owns the Spurs? Billionaires, tech giants and prominent local families all have a stake.

By Tom Orsborn June 20, 2023 Publication: San Antonio Express-News: Web Edition Articles (TX) Word Count: 1082

With the addition of some serious new money, the Spurs are set to begin the Victor Wembanyama era with a strong ownership group in place.

The Spurs began their financial shakeup in June 2021 with the additions of Austin billionaire Michael Dell, founder of Dell Technologies, and Sixth Street Partners, a San Francisco private equity firm that manages more than $50 billion in assets. More heavyweight investors followed with Airbnb co-founder and billionaire Joe Gebbia and others, including San Antonio businesswoman and philanthropist Kimberly Lewis, coming on board.

Here's a look at the reported makeup of the investment group as the team prepares to select Wembanyama, the 19-year-old French phenom, with the No. 1 overall pick of the 2023 NBA Draft. The Spurs declined to comment for this story, which is based partly on information printed in the club's 2022-23 media guide. The club is expected to provide an updated list in its 2023-24 media guide.


Holt family

Owners of San Antonio-based Holt Cat, a fifth-generation family-owned business that ranks as the largest Caterpillar equipment dealership network in the nation.

Percentage of ownership: More than 40, which would mean their share is worth more than $864 million after Sportico.com valued the team at $2.16 billion last year.

The skinny: Peter M. Holt and his wife, Julianna Hawn Holt, became the Spurs' largest shareholders in 1996. The Spurs won five championships during the 20 years Peter M. Holt served as team chairman. Julianna, succeeded her husband after he stepped down in March 2016. In March 2019, Spurs Sports &Entertainment announced Peter J. Holt had succeeded his mother as chairman and co-chief executive officer. In June 2021, the franchise announced Peter J. Holt had been elevated to managing partner.


Sixth Street Partners

A San Francisco-based global investment firm.

Percentage of ownership: 20 ($432 million).

The skinny: SS&E announced in June 2021 that Sixth Street and Austin billionaire Michael Dell had bought out 11 of the Spurs' then-22 investors. Sixth Street manages more than $50 billion in assets and operates from nine offices around the world. Founded in 2009, its current and past investments include Airbnb, AirTrunk, Caris Life Sciences, Legends, and Spotify. Its CEO is co-founder Alan Waxman.


Michael Dell

Chairman and CEO of Dell Technologies,

Percentage of ownership: 10 ($216 million).

The skinny: Dell began amassing his empire at age 19 by selling computers out of his University of Texas dorm room. He ranks 23rd on Forbes' 2023 list of the world's billionaires at $50.1 billion. Sixth Street is headquartered in San Francisco.


James R. Leininger

Founder of Kinetic Concepts Inc., the wound-care company that now goes by the name Acelity Inc.

Percentage of ownership: 8.7 as of 2016 ($187.9 million).

The skinny: Leininger is believed to have been a part of a group of 22 investors that bought the Spurs from B.J. "Red" McCombs for $75 million in March 1993. Forbes reported this year Leininger has a net worth of $1.7 billion, putting him at a tie for No. 1,725 on its list of the world's billionaires. He's also the founder of the Texas Public Policy Foundation, which supports free-market policies and research.


David Robinson

One of the greatest players in Spurs history and a philanthropic force in the San Antonio community.

Percentage of ownership: 1.89 as of 2016 ($40.8 million).

The skinny: The Admiral confirmed in 2004 he had completed his purchase of a small chunk of the franchise from former Spurs president and CEO Jack Diller. Forbes magazine listed the Spurs' worth then at $283 million, but the two-time NBA champion said he did not join the investment group to make money. "I just want to learn what (being an owner) is about," he said. "I want to get a feel for how things work. After (retiring) last year, this sort of makes me feel part of the team again."


Bruce and Russell Hill

Brothers Bruce, one of the founders of Designated Bidders, LLC, the group of San Antonio executives who acquired the San Antonio Missions baseball team in 2022, and Russell.

Percentage of ownership: Unknown.

The skinny: The Hills have maintained a low profile during their long history as owners, which is believed to have started as part of the 22-member investment group that purchased the Spurs from McCombs in March 1993.


SWBC

The international financial services company Southwest Business Corp. is based in San Antonio.

Percentage of ownership: Unknown.

The skinny: The firm was part of the group of 22 investors that purchased the Spurs from McCombs in March 1993. SWBC co-founders Charlie Amato and Gary Dudley bought equal shares when the firm made the investment.


Valero Energy Corp.

San Antonio-based petroleum titan.

Percentage of ownership: Unknown.

The skinny: Valero was part of the group of 22 investors that purchased the Spurs from McCombs in March 1993.


Dr. Raul S. Cantu

Owner of Sierra Sports & Entertainment.

Percentage of ownership: .82 as of 2016 ($17.7 million)

The skinny: Cantu was listed as an investor in Spurs media guides as far back as the 1980s, making him the longest-tenured investor.


Richard Cantu

Owner of Sunrise Sports & Entertainment

Percentage of ownership: .82 as of 2016 ($17.7 million)

The skinny: A longtime investor who maintains a low profile.


Joe Gebbia

Airbnb co-founder and billionaire.

Percentage of ownership: Unknown.

The skinny: The Spurs announced in January 2022 that Gebbia, who lives in the San Francisco Bay Area, had joined the investor group as a strategic partner. As of July 2022, his net worth was estimated at $7.4 billion.


Kimberly Lewis

Founder of San Antonio-based investment management company KSL Resources, LLC.

Percentage of ownership: Unknown.

The skinny: The Spurs announced in May that Lewis, a San Antonian, had joined the ownership group as a strategic partner. The addition of Lewis came shortly after Philadelphia-based food, facilities and uniform services company Aramark sold roughly half of its ownership in the Spurs to an unidentified buyer for about $100 million. Aramark declined to disclose the current size of its stake, but it had owned 10.6 percent as of 2016.


Paul Viera

Atlanta-based founder of global investment firm EARNEST Partners.

Percentage of ownership: Unknown

The skinny: The Spur announced in May that Vierra had joined the ownership group as a strategic partner and a member of the board of managers. The additions of Lewis came shortly after Philadelphia-based food, facilities and uniform services company Aramark sold roughly half of its ownership in the Spurs to an unidentified buyer for about $100 million. Aramark declined to disclose the current size of its stake, but it had owned 10.6 percent as of 2016.

https://www.expressnews.com/sports/spurs/article/spurs-owners-investors-breakdown-18130948.php

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