Austonia daily newsletter—direct to your inbox 6 a.m.
×
becomeMemberIcon

become a member

Dell Technologies CEO Michael Dell will be added as a strategic partner for the San Antonio Spurs. (Dell)

Dell Technologies CEO Michael Dell is taking business a little further south—The San Antonio Spurs have added Dell and Sixth Street, a global investment firm, to its investor group as strategic partners

The Spurs also promoted Peter J. Holt to managing partner. The shifts have already been approved by the NBA Board of Governors and are scheduled to go through next week.


Michael Dell

Dell is an Austin-based CEO and Chairman of Dell Technologies, a company he founded in 1984 at the age of 19.

"I am excited to join Peter Holt and Sixth Street, and the entire San Antonio Spurs community, as a partner in this extraordinary franchise," Dell said in a press release. "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."

Peter J. Holt

As the largest shareholders of the San Antonio Spurs, the Holts first joined the Spurs investor group in the summer of 1996, when Peter M. Holt was named Spurs Chairman for 20 years, until wife Julianna Hawn Holt took over as Chairwoman in 2016.

J. Holt took over as Chairman in 2019 and alongside his sister, Corinna Holt Richter, the pair represents the family on the board of managers.

"There are countless individuals who have impacted the organization and our community in so many ways over the last five decades," Holt said in a press release. "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."

Sixth Street

Finally, Sixth Street manages $50 billion worth of investments around the world from nine global offices. Airbnb, Legends and Spotify are a few of the brands the firm has invested in.

"The San Antonio Spurs are one of the most successful and admired franchises in sports," Sixth Street co-founder and CEO Alan Waxman said. "We have deep respect for how the team has built and sustained its championship culture and … look forward to joining Michael Dell in supporting Peter's vision for the future of the Spurs in San Antonio."

Altogether, Richter said the additions will maintain the Spurs' "commitment to culture, excellence and community" while helping to "advance the franchise forward."

Popular

If the FDA approves emergency use authorization of its COVID vaccine for kids, those 5 years and older will all be eligible for a shot. (Pexels)

The Food and Drug Administration will consider Pfizer's COVID-19 vaccine application for emergency use authorization in 5-to-11-year-olds on Tuesday. The vaccine will likely be available to kids starting next week.

Keep Reading Show less

Tesla stock capped at $1 trillion for the first time after a sale of 100,000 electric cars. (Tesla)

Tesla is officially in with the big guns.

After Hertz Global Holdings Inc. placed an order of 100,000 Teslas—the biggest single electric car purchase ever—Tesla officially hit the $1 trillion market cap for the first time.

Keep Reading Show less

Northwest Arkansas is urging Austinites to move once again with a free one-way ticket giveaway. (Laura Figi/Austonia)

They say imitation is the sincerest form of flattery, right?

While Northwest Arkansas isn't exactly looking to be a breakfast taco-loving, live music-having tech hub, it is branding itself as the Austin of yesteryear. And who better to come to the quickly-growing paradise than Austinites themselves?

Keep Reading Show less