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Good. He better open up that wallet this summer.
Holt upbeat about Spurs’ bottom line
Tom Orsborn
While acknowledging the economic downturn has the Spurs “fighting to sell every ticket,” Spurs Sports & Entertainment chairman Peter Holt said the franchise is financially sound and on course to match last year’s season ticket sales.
“Financially, we’re in as good a shape as maybe we’ve been, because we’ve had some great years,” Holt said.
In an interview before a recent playoff game, Holt covered a wide range of topics, including efforts by SS&E — the parent company of the Spurs, the American Hockey League’s Rampage and the WNBA’s Silver Stars — to bring another sports franchise to town and also to broaden the company’s footprint in the Austin area.
Wearing his trademark black blazer, Holt said the key to the Spurs’ financial health has been a stable, fiscally conservative ownership group. Other factors include the four NBA les won during the Tim Duncan era and increased revenues from national and local television deals.
But the prudent manner in which the owners have conducted business is the main reason the Spurs are financially stable, said Holt, CEO of San Antonio-based Holt Cat, the nation’s largest Caterpillar equipment dealer.
“All these years, none of the (Spurs shareholders) took any money out of the business at all,” Holt said. “So it just pays down debt, pays down debt, leaving our debt really low. And none of the owners, luckily, make a living directly off the business. So we’re all in good shape. The Spurs are financially sound.”
So much so, the team declined to take a handout from the NBA.
League commissioner David Stern announced in February the NBA had lined up $200 million which would be made available to a dozen teams that had expressed an interest in the money.
“We didn’t need it,” Holt said.
In January, Holt announced a freeze on ticket prices for the 2009-2010 season. While declining to reveal how many packages have been sold, he stressed the numbers are solid.
“Thank the Lord, they’re going (well),” Holt said of sales. “We started about a month early and we’re running well. It took us 30 more days, but we’re not that far behind where we were at this time last year. We’re feeling pretty good. In fact, we’re feeling better than we thought we would at this time.”
Holt said the team has benefited from a stable local economy.
“The city and the state — relative to a lot of other cities and states — is in pretty good shape, and I think that’s helping us,” Holt said.
Turning to SS&E’s interest in soccer, Holt said talks with the United Soccer Leagues are stalled because there’s no public money to build a multi-use stadium.
“We think soccer can work in San Antonio, it’s just a question of when. And right now is not when,” Holt said. “The county or the city doesn’t have the money. Maybe something could eventually be worked out with a school district. But right now, with this economic situation, there isn’t going to be any public money for anything anywhere.”
The USL is considered a step below Major League Soccer, which failed in its bid to expand into San Antonio in 2005, partly because then-mayor Ed Garza lacked political support to give MLS a deal that included rent-free use of the Alamodome.
Holt said Garza approached SS&E about playing an ownership role in an MLS franchise, but Holt said SS&E “couldn’t make the numbers work” at the dome.
“But we think the USL, at least with the numbers we’ve run, could work here in a smaller stadium,” Holt said.
One venture that’s on SS&E’s front burner is strengthening its stake in Central Texas.
SS&E owns the Austin Toros, the Spurs’ developmental team.
“Cedar Park (an Austin suburb) is building a smaller facility, and we hope to maybe take the Toros up there for some games,” Holt said. “We’d like to build some teams in Austin too, more minor-league type situations. We want to expand in Central Texas in the sports business. Central Texas is expanding, so why not it be us?”
Good. He better open up that wallet this summer.
Cue in the Holt is a cheap ass comments in 3...2...1...
Yeah right
Hey Peter, what do you think of the Scola trade? why are the San Antonio Media types in the city throw balls like girls? Bunch of pussies I swear.
what's the catch for the teams that did take some of that NBA money?
They need to bow down to King James...
from what I remember it wasn't a bailout per se, as with the USA and banks.
All it was is a line of credit the NBA as a whole got to provide loans/credit to teams at a cheaper rate than the credit the teams on their own would get from their banks.
That's all.
And everyone remember Holt turning it down if the Spurs don't use the full MLE this summer, or don't take on extra salary in trades (like Vince Carter for example).
And I am sure the timing of this article is purely a coincidence...
spurs could have done it for money but spurs said they did not think scola and duncan would work together
doug collins said tonight scola FINNALLY developed a jumpshot
spurs did not think he could since he is old... they thought he peaked
wtf? there are no handicap parking places in this topic asswad. WTF are you talking about?
scola played some postion duncan
did not think both could be on the court same time
also scola and spurs were not getting along
scola mad spurs told him to work on rebounding
Are you suggesting that the Spurs should borrow money to finance additional payroll and any resulting luxury tax? Because I read this comment to mean that the Spurs decision to not borrow money they don't need would be evidence of a lack of commitment to improving the team.
This. Oh my god, this.
Funny, because as a Spur fan I am not upbeat about anything at the moment
The flirtation with Carter and Jefferson gives some belief that they just might be one of the few teams willing to take on some salary, but I'll believe it when I see it.
I read objective's post as basically saying there's no excuse to not open the wallet this summer.
I don't believe that's completely sound logic, since not needing a bailout isn't the equivalent to having money to spend, but I think that's what he was trying to get at.
So the Scola trade has worked out well for Holt cat?
I think it was said that he nixed the Carter trade because he wasn't willing to take on Carter's salary. Or was that Camby?
The flirtation with Carter and Jefferson gives some belief that they just might be one of the few teams willing to take on some salary, but I'll believe it when I see it.
The Camby deal was actually nixed by Sterling at the last minute, not the Spurs.
As far as the Carter deal, the fact that they'd have to pretty much gut their roster to aquire him, probably had as much, or more, to do with it than the financial implications.
Had the Spurs had a significant expiring contract to get rid of, I'm guessing there's a good shot that deal goes down. (Carter's final year only being guaranteed for around 4 million, IIRC, made it much more feasible than at first glance, also.)
Scola had that jumpshot since the first year he came here.......He's just more consistent with it now cause he's no longer a hesitent NBA rookie.
Collins doesn't know what the he's talking about...dude's been stroking that very efficiently ALL season.
And how the did your coaching staff/FO think he "couldn't play next to Duncan"? Everybody knows Duncan has pretty much been the center on that team. Scola has pretty much been a 4/5 with us due to Yao's injuries so they could've easily played together.
I think the Spurs will spend somewhere around the luxury tax again. It would be silly to expect them to spend much more than that in this economy. They might be in a position to take a contract or two off of cash-strapped teams.
I like the fact they are exploring the possibility of having the Toros play in Cedar Park. It will be interesting to see what they can draw in a proper arena closer to more of the corporate ticket holders homes.
well thats good to hear.
Everytime I see a cat machine I think of the spurs "here come ours"
And when I see other company machines I say "fricking compe ion"
quack.........Quack......QUACK.............
Scollas numbers last night Luis Scola, PF35 8-18 0-0 1-2 7rb 17pts
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