Spurs owner Peter Holt is relinquishing control of the team to wife Julianna Hawn Holt, the team announced via press release. The 67-year-old Spurs boss is retiring as chairman, CEO and representative on the board of governors, turning those capacities over to his wife. The Holts jointly became the franchise’s largest shareholders in 1996, when Peter Holt ascended to the top of the organization. He’ll remain on the board of managers of Spurs Sports & Entertainment and continue as part of the ownership group.
“Our ownership in the Spurs has always been a family affair,” Julianna Hawn Holt said. “For many years I’ve had the desire to take a more active role with Spurs Sports & Entertainment. We felt this was the right time to make this transition. We are very excited about the current Spurs season and the future of the organization.”
It’s unclear how the change will affect the on-court product going forward. Peter Holt has been a hands-off owner, allowing coach/president Gregg Popovich and GM R.C. Buford to build one of the league’s most well-respected basketball operations. The departing owner served as chairman of the NBA board of governors from 2012 to 2014 and played a leading role in selecting commissioner Adam Silver as the replacement for the retired David Stern, as Tom Orsborn of the San Antonio Express-News noted this past summer in a profile.
The changing of the guard closes a remarkably successful era for the Spurs, who missed the playoffs only once under Peter Holt’s reign. The franchise has won five NBA titles while qualifying for the postseason for an amazing 19 straight seasons.
“I’m proud of what we’ve achieved over the last two decades,” Peter Holt said. “The championships are wonderful, bringing new sports franchises to San Antonio is important but the biggest accomplishment for me will always be the impact we’ve had in our community. The pride, support and love that our city has for the Spurs is truly amazing.”
Julianna Hawn Holt installed Rick Pych, the president of business operations for Spurs Sports & Entertainment, as co-CEO, according to the team’s release.