SAN ANTONIO – The San Antonio Spurs announced some key leadership changes to the structure of the franchise’s investor group.
Peter J. Holt was officially elevated to managing partner of the Spurs on Friday. The franchise also announced that Sixth Street, a leading global investment firm, and Austin billionaire Michael Dell have joined the Spurs investor group as strategic partners. The NBA’s Board of Governors approved both moves on Friday afternoon.
The Holt family first joined the Spurs investor group in the summer of 1996. Peter M. Holt served as the Spurs Chairman for two decades before Julianna Hawn Holt was named the organization’s Chairwoman in March of 2016.
Peter J. Holt assumed the Spurs Chairman role in March of 2019. The Holt family remains the largest shareholder of the San Antonio Spurs, according to a press release. Holt said Friday in a video that the Spurs are committed to staying in San Antonio.
Sixth Street was founded in 2009 and manages over $50 billion in assets from nine offices around the world. Some of those assets include Airbnb and Spotify.
“The San Antonio Spurs are one of the most successful and admired franchises in sports,” said Alan Waxman, Co-Founder and CEO of Sixth Street. “We have deep respect for how the team has built and sustained its championship culture and earned the fierce loyalty of the Spurs community through its discipline, willingness to innovate, and commitment to fairness and equality both on and off the court.”
Michael Dell is Chairman and Chief Executive Officer of Dell Technologies, a company that he founded in 1984 at the age of 19. Dell Technologies, headquartered in Round Rock, is one of the largest technology corporations in the United States by total revenue.
“I am excited to join Peter Holt and Sixth Street, and the entire San Antonio Spurs community, as a partner in this extraordinary franchise,” said Dell. “As a Texan and as someone who appreciates how unique a culture of excellence is – in sports or in any organization – I have tremendous respect for the record the Spurs have established in San Antonio over many years. It is our goal to serve as true stewards of the franchise going forward.”