San Antonio businessman Peter Holt purchased the U.S. Army
Association's 13.37% share of the Spurs Wednesday, "a move that
virtually assures the team will stay in the city," write Lucas &
Rogers of the SAN ANTONIO EXPRESS-NEWS. Terms of the deal were
not disclosed, but the share is estimated at $16.7M and is the
second largest piece of the team behind Gaylord Properties.
Holt, CEO of the Holt Cos.' Caterpillar dealership, is viewed as
"an energetic and active owner who soon may ascend to a
leadership role" in the team, which is co-owned by 20 other
companies and individuals and which lost money for the first time
last season. Holt: "I am from San Antonio and I, along with the
other owners, want to keep it in San Antonio" (SAN ANTONIO
EXPRESS-NEWS, 6/13).
SEEING RED: The EXPRESS-NEWS' Charlotte-Anne Lucas notes
low attendance during the playoffs, "sharply lower pay-per-view
revenue" than last year and the fact that the Spurs did not go as
far as expected, and reports the team will end the season with an
operating loss. Spurs President Jack Diller declined to cite
specific numbers until the fiscal year ends this month, but said,
"We certainly believe we will have lost money" (SAN ANTONIO NEWS-
EXPRESS, 6/13).
