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.
NEWS: Spurs name Peter J. Holt to Managing Partner and introduce Sixth Street and Michael Dell as Strategic Partners. Welcome to the Spurs Family!
More on today's additions ⤵️
— San Antonio Spurs (@spurs) June 18, 2021
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."
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."
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So you want to buy a house?
To anyone trying to get on the "housing ladder," it's been a discouraging couple of years as prices skyrocketed in a market crowded with buyers bidding against each other for just about any available home.
Things may be calming down, with the Austin Board of REALTORS reporting fewer sales and more available homes this summer.
Mortgage rates have more than doubled in the last year, from around 3% to well over 6% on a 30-year fixed rate loan, getting even more of a bump this week after the Federal Reserve raised bank rates on Wednesday.
So how affordable are homes right now? That, of course, depends on what you want and how much you're able or willing to pay, but here are some rough estimates of what a typical buyer would pay to buy a $650,000 home, which would be considered "mid-price" in today's market.
Mortgage banker Chris Holland (NMLS 211033) of Austin's Sente Mortgage ran some numbers for Austonia to illustrate a typical purchase.
Holland says that while the 30-year fixed rate mortgage is often mentioned in the media, the most popular loan that he's seeing now is a 7/1 adjustable rate mortgage, which has a fixed rate for 7 years and then adjusts every year based on market rates, with a limit on how much it can increase each year. The interest is amortized over a 30-year period. Adjustable Rate Mortgages (ARMs) offer lower rates than fixed rate loans.
Here are the numbers, which are examples. In practice, exact numbers vary with a buyer's credit rating and overall financial situation, and with the rate, which can move up or down at any time.
- $650,000 home purchase price
- 7/1 ARM at 5.875%
- 5% down payment, equals $32,500
- 95% financed, equals $617,500
- $4,990 payment, including principle and interest (P&I), insurance, and property tax
- Typically, a borrower's debt to income ratio needs to be at or below 45%. So for this mortgage, a borrower, or borrowers, would need income of roughly $11,100/month, or $133,200/year. That number could be higher, depending on the buyer's outstanding credit balances on things like credit cards and car loans.
Holland says he's had a lot of clients approved for loans who were house hunting but have put that on hold, hoping prices come down.
Camp Fimfo Waco, a brand new camping resort, is kicking off football and fall camping season in style! With top-notch amenities, premium accommodations, and 10 weekends of fall fun, there’s no better place to have a fall camping getaway, especially if you’re a Baylor football fan!
Fall promises to be a one-of-a-kind camping experience. From Sept. 16 to Nov. 24, weekends will be packed with fall-themed activities, including special Halloween weekends in October. Campers can enjoy activities like fall crafts, campground trick-or-treating, costume contests, site decorating, outdoor movie nights, and more!
Packages and Ways to Stay
Camp Fimfo Waco
Located just 5 miles from McLane Stadium, Camp Fimfo Waco is the perfect place to stay during home game weekends. Skip the stuffy hotel room and embrace the great outdoors before cheering on the Baylor Bears! Campers can purchase a Baylor Tailgating Package that includes a pre-game meal from Executive Chef Sean Kelley and transportation to and from the game! Chef Kelley will also be cooking up delicious, elevated tailgating meals near the stadium so make sure to check out The Plaid Plate food truck before the game.
Stay in style and comfort, no matter your camping preference! At Camp Fimfo Waco, there are multiple ways to stay. Red Carpet RV sites come with a concrete pad and patio, full hook-ups, cable hook-up, a charcoal grill, fire ring and fire pit. Back-in or pull-thru options are available, as well as coveted spots tucked along the Bosque River!
Don’t have an RV? Not a problem, Camp Fimfo Waco has cabins too! Book a Riverview Firewheel Cabin if you’re looking for an air-conditioned oasis for the whole family. Complete with a kitchen and private bathroom, this cabin can fit up to 10 people. Elevate your stay by adding on a golf cart or snag a private cabana by the pool for guaranteed shade. With wifi available throughout the park, you can stay connected during your stay!
Amenities and Activities
Camp Fimfo Waco
Camp Fimfo Waco features lots of amenities to fill your days with fun, whether you’re a kid or kid at heart. After challenging your friends to a game of pickleball, basketball, or mini golf, go for a dip in the resort-style, heated pool - open daily through October! Stay on the weekends through October to enjoy the interactive splash playground. With plenty of ways to burn off energy, like the jumping pillow or playground, you can be sure to end the day with a peaceful night around the campfire!
Right now, you can get the fourth night FREE when you book three nights with the promo code BONUS! Check out the Offers page for full details and more promo codes!