June 23, 2024

San Antonio Spurs announce two new strategic partners

The San Antonio Spurs announced Friday, June 18 they will be bringing in two new strategic partners to their group: Sixth Street and Texas billionaire Michael Dell, the founder of Dell computers. Dell had founded the company after dropping out of the University of Texas at Austin. Michael currently sits as the chairman and Chief Executive Officer of Dell Technologies headquartered in Round Rock, Texas.

“I am excited to join Peter Holt and Sixth Street, and the entire San Antonio Spurs community, as a partner in this extraordinary franchise,” says Michael Dell in a press statement. “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.”

Currently Peter J. Holt sits with his sister Corinna Holt Richte on the Spurs’ board managers. Effective immediately Peter was promoted to Managing Partner. The Holt’s are the largest shareholder for the Spurs. Peter will have exclusive authority over the team.

“Today is an exciting moment in San Antonio Spurs history as we welcome Sixth Street and Michael Dell to our investment group,” said Corinna Holt Richte. “We believe these two new partners, who share our commitment to culture, excellence and community, will help advance the franchise forward.”

As for Sixth Street, they are a global company that has offices all over the world. Some of their investments include Airbnb and Spotify.