Spurs Sports & Entertainment yesterday announced that team Chair & CEO PETER HOLT has retired and that his wife JULIANNA HAWN HOLT will assume both roles. Peter Holt has held the position since '96. He will remain on the organization’s Board of Managers and continue as part of the ownership group while his wife will become the team’s Governor on the NBA’s BOG. She has requested that SS&E President of Business Operations RICK PYCH be appointed co-CEO (SS&E). In San Antonio, McDonald & Orsborn write Holt's sudden retirement was a "bombshell announcement." Other members of the Spurs’ group of investors said they expect a “business as usual” approach with a new Holt at the helm. Spurs investor CHARLIE AMATO said, "There are not going to be any cultural changes, no major changes." Fellow investor STEPHEN LANG said, “Peter has been fantastic. He’s been responsible for hiring good people and letting them run things. That’s been the secret of our success" (SAN ANTONIO EXPRESS-NEWS, 3/10). The AP's Raul Dominguez wrote Holt's "selfless ownership is credited with helping the team win five NBA championships." In the Spurs' "typically understated fashion, the surprising announcement" came on an "off day for the team" (AP, 3/9). ESPN.com's Michael Wright noted the Holts hold "equal stakes" as the Spurs' "largest shareholder." Sources within the organization "expect a seamless transition and consider the latest move as one that ensures consistency and continuity throughout." Julianna Holt "has always served as an active partner within the organization" (ESPN.com, 3/9). YAHOO SPORTS' Eric Freeman wrote it is "not yet clear what inspired the 67-year-old Holt's retirement, but it is immediately apparent that he will be missed." It is "unlikely that his absence will create serious drama, but the most stable organization in the NBA will have to deal with a little more uncertainty than usual" (SPORTS.YAHOO.com, 3/9).
MODEL OF CONSISTENCY: The AP's Dominguez noted Warriors coach STEVE KERR "was surprised by the news." He said, "That will take a little time to process. All I can say is that playing for the Spurs, Peter was just an incredible owner, passionate and involved without being overbearing. The perfect combination" (AP, 3/9).
