David Robinson part owner of Spurs

[Shelly]

Didn't see this posted, but KSAT said that David now owns 2% (I think) of the Spurs.

[Marcus Bryant]

How much does The Coyote own?

[Shelly]

50%?

BTW, this was confirmed by Holt.

[timvp]

David is charitable with his money. Maybe the Spurs can now re-sign Parker for market value.

[timvp]

Robinson becomes part owner of Spurs
Johnny Ludden


Dressed in a denim jacket and jeans and standing in a back hallway of the SBC Center, David Robinson quietly confirmed Thursday night what many around the Spurs have whispered for months.

A little less than one year after the franchise retired his No. 50 jersey, Robinson is returning to the team.

As an owner.

Robinson said he has completed his purchase of a 1.88-percent share of the franchise from former Spurs president and chief executive officer Jack Diller.

"All the I's are dotted and the T's are crossed," Robinson said. "I think we're in."

The Spurs' other investors had to give their approval for the sale to become official. The NBA's board of governors does not have to vote on the transfer because the share is less than 5 percent.

Though Robinson's stake could be worth more than $5 million based on media valuations of the Spurs and the recent sale of other NBA franchises, he said he did not join the ownership group hoping to make money. Forbes magazine listed the Spurs' worth in February at $283 million, eighth-highest in the NBA and up 24 percent from a year ago.

"I just want to learn what (being an owner) is about," Robinson said. "I want to get a feel for how things work. After not playing last year, this sort of makes me feel part of the team again."

The Spurs' other investors — chairman Peter Holt and his wife, Juliana, own the largest share at about 32 percent — welcome Robinson's addition to the ownership group as a way for the franchise to stay connected with a player who served as its face for 14 years.

Robinson retired following the 2002-03 season after winning his second NBA championship. He is the franchise's all-time NBA leader in scoring, rebounding and games played.

Diller, who is president and chief operating officer of the NHL's Nashville Predators, had held the 1.88-percent share since leaving the Spurs in 1997. After Diller and his family decided to sell, they approached Robinson.

"They just thought I would be a good fit," Robinson said.

Robinson is not the first former player from the Spurs to purchase part of an NBA team. Steve Kerr joined the new investment group that purchased the Phoenix Suns earlier this year. Sean Elliott also was approached about joining the Suns' group, but he has more interest in someday becoming an investor with the Spurs.

Unlike Kerr, who serves as an advisor to Phoenix managing partner Robert Sarver, Robinson said he doesn't expect to have too active of a role with the team. His first order of business Thursday was to present Tim Duncan with the David Robinson plaque for winning the NBA's monthly Community Assist Award.

"I'm not going to try to change anything," Robinson said. "This ownership group has done a great job of putting together a team each year. We have a good chance of winning it all again this season.

"I'm just interested to see what it's like sitting on this side of the fence."

Since retiring, Robinson has sat in the second row across from the Spurs' bench at many of the team's home games. He does not plan to now ask for an office.

"That means I'd have to work," Robinson said. "I'm doing enough of that with my three boys."

In addition to spending more time with his family, Robinson has used his retirement to focus on his Carver Academy. The school recently added a fifth grade and has done well in its fund-raising drive.

"We're still looking for some more people to help with support," he said, "but everything is great."

If nothing else, Robinson's ownership role should give him some leverage with coach Gregg Popovich.

"I'm going to have to give him a hard time now," Robinson said, laughing. "All those years I couldn't say anything back to him."

http://www.mysanantonio.com/sports/basketball/nba/spurs/stories/MYSA2004102204.1C.BKNspurs.sixers.10682ebf.html

[toosmallshoes]

David Robinson IS the Spurs, even more so than Gervin or Duncan. this is great news for San Antonio. I wonder if he'll ever up his ownership percentage? The Spurs have done an outstanding job of making icons out of their top players. Their top two are highly involved with the team, and Duncan is likely to follow. I sometimes wonder what the Spurs will do when they don't have an amazingly talented player on the team, because they've rarely been without one. Cheers to one of the best managed teams in professional sports.

[IcemanCometh]

pr move

[Useruser666]

24% increase in one year? How can I buy some stock in the Spurs?