The San Antonio Spurs have announced that Peter J. Holt has been elevated to managing partner of the franchise. Holt is the son of Peter Holt and Julianna Holt.
At the same time, Sixth Street, a leading global investment firm, and Michael Dell have joined the Spurs investor group as Strategic Partners.
The Holt family remains majority owners of the franchise.
Sixth Street manages over $50 billion in assets and operates from nine offices around the world. The firm was founded in 2009 as a partnership focused on core values of integrity, responsibility, and teamwork. Sixth Street’s investing approach is built around using its long-term, flexible capital base, cross-platform team culture, and data-enabled capabilities to offer solutions to companies across all stages of growth.
Michael Dell is Chairman and Chief Executive Officer of Dell Technologies, a company that he founded in 1984 at the age of 19.
“We are forever grateful for the contributions of every Spurs investor dating back to 1973. There are countless individuals who have impacted the organization and our community in so many ways over the last five decades,” said Peter J. Holt. “The Holt family is excited to continue working with all of our investors to provide the support, leadership and resources needed for the Spurs to continue to thrive in San Antonio.”
According to Leslie Picker of CNBC, the deals value the franchise at $1.8 billion with Sixth Street taking a 20 percent stake while Dell took another 10 percent.