Spurring Rumors

San Antonio Spurs are 'safe' despite owners' impending divorce

San Antonio Spurs are 'safe' despite owners' impending divorce

San Antonio Spurs dunk
San Antonio Spurs are reportedly safe despite owners' divorce.  San Antonio Spurs/Facebook

Whatever happens in divorce court won’t affect what happens on the San Antonio Spurs’ basketball court. That’s the word from the Spurs’ majority owner, Julianna Hawn Holt, who filed for divorce from husband Peter Holt in December.

“The franchise is safe,” Hawn Holt, chairwoman and CEO of Spurs Sports & Entertainment, told San Antonio TV station KSAT in a statement. “We are dedicated and committed to continued success.” Presumably, the statement means the NBA team won’t be sold as part of the divorce proceedings.

According to documents cited by KSAT, Hawn Holt filed for divorce December 22 because their marriage had become intolerable due to personality conflicts “that destroy the legitimate ends of the marriage relationship and prevents any reasonable expectation of reconciliation.”

The Holts were married in 1985. Eleven years later, they became the largest shareholders of the NBA team. In 2016, Holt gave up control of the team to his wife.

Forbes magazine valued the Spurs at $1.175 billion in 2017, making the team the 12th most valuable in the NBA. Aside from San Antonio’s NBA team, Spurs Sports & Entertainment owns the American Hockey League’s San Antonio Rampage, minor league basketball’s Austin Spurs, and the United Soccer League’s San Antonio FC. The Spurs organization also manages the AT&T Center, the NBA team’s home arena.