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I think I would sell and pay the $40k or so for two courtside season tickets. $100million is a lot of dough.
Spurs not for sale - Holt enjoys owning team too much to cash in
Web Posted: 06/08/2007 11:34 PM CDT
Tom Orsborn
Express-News
With the franchise valued at nearly $400 million and poised to win its fourth NBA le, Spurs majority owner Peter Holt would hit a massive jackpot if he were to put his share of the club on the market, industry experts say.
So why doesn't he?
The answer is as simple as the blue jeans, cowboy boots and black blazer Holt wears to home games.
"Sell this team?" Holt says, repeating a reporter's question. "Oh, no, no, no. Not at all. Not in any way, shape or form.
"We — my wife, myself — enjoy it too much. We enjoy all aspects of this business too much."
Holt, chief executive officer of Holt Cat, the largest Caterpillar dealership in the United States, and other investors paid $76 million in 1996 to gain control of the team. Under Holt's watch, the Spurs have won all their championships and become the league's model franchise.
"Let's recognize something," says Marc Ganis, a Chicago-based sports marketing expert, "the Spurs are one of the great pro sports franchises in modern history. Their run has been extraordinary and it's been done with limited resources in a small market, which means it's been done with great management.
Forbes magazine last year estimated the value of the Spurs franchise at $390 million, ranking it ninth in the NBA. The team's value is 11 percent higher than it was in 2005 and $37 million above the league average.
Holt, 58, owns 32 percent of the franchise. Based on what he likely paid for it and what analysts say the team is worth, he would profit to the tune of more than $100 million by selling his share.
"I'm glad, of course, to see the valuation determined by Forbes and other places keep going up because this is a valuable asset," Holt says. "And all of the owners feel that way.
"But that's not why we are in this. This is a lot of fun for us. And the Spurs have been such an integral part of the community, which adds to it. So it's all neat."
Holt's passion for being an owner is obvious to anybody who's seen him at Spurs games cheering courtside with his wife, Julianna.
"There's no question about how much he loves this," says Charlie Amato, co-founder of Southwest Business Corp. and a Spurs shareholder.
"Peter has a passion for the team, a passion for San Antonio, a passion for the fans and a passion for everybody associated with the Spurs — from the ownership group to management and, of course, the players are very special to him."
The enjoyment Holt derives from the Spurs is the main reason wealthy people like him become owners, Ganis says.
"There's no doubt Peter Holt and the other Spurs investors could make a lot of money selling the team," Ganis says. "But money isn't the operative factor here. It's lifestyle.
"There are many ways people of great wealth can get even greater wealth. But there are few ways they can enhance their lifestyle. Owning the Spurs is one of those ways for Peter Holt."
There are times, though, when Holt's love brings him pain. Such was the case last season when the Spurs lost in seven games to Dallas in the Western Conference semifinals.
"We were really disappointed," Holt says. "We lost that series fair and square — Dallas beat us. But we really had high hopes of being able to repeat as champions. In a way, it's almost like I've got two years of pent up energy here."
Amato says such comments are typical of Holt.
"Quietly, Peter and Julianna are very compe ive," Amato says. "They aren't like other owners that jump around and are vocal. But I can assure you owners like that aren't any more compe ive than Peter and Julianna."
But Holt's desire to win isn't enough to push him into the team's huddle or meddle with the day-to-day basketball operations. Team officials say he isn't anything like the Mavericks' Mark Cuban or the Dallas Cowboys' Jerry Jones, two high-profile owners known for their hands-on styles.
"He's an owner who is as good a fan as any of those other guys, but he doesn't interfere with people who have the basketball expertise," Spurs assistant coach P.J. Carlesimo says of Holt. "He will be in the locker room shaking hands, but he is not a microphone owner and he is not a camera owner.
"He is a players and coaches owner."
Says Spurs coach Gregg Popovich: "I can't remember, if ever, Peter calling any of us in and saying, 'Why did you do this? What's the deal?' or, 'No, you can't do that.'
"We have done whatever we've wanted to do for a decade, and that's an unequivocal fact."
And Holt intends to keep it that way for years to come.
"Hey, I'm still a young guy," Holt says. "I'm planning on staying around for a while."
Says Amato: "We've never discussed an exit strategy because I don't think anyone in ownership, especially Peter and Julianna, have ever thought about parting with this team."
Of course, it's easy to make such comments when the Spurs are le contenders. But what happens after Tim Duncan and Popovich retire, and it becomes a challenge just to reach .500?
"We know some years will be lean," Amato says. "We know, God forbid, we could have a losing season. But I don't think Peter or anyone else in the ownership group is going to throw up a white flag and surrender."
Holt knows all about surviving tough times. An Army veteran of the Vietnam War and the Tet Offensive, he came home with a Purple Heart for a wound received in action and a Silver Star for valor on the battlefield. He's also battled alcoholism for much of his life and suffered a relapse in 2004 that led to a well-publicized trip to a local treatment center.
"I was in recovery 20-plus years and I fell off the wagon," he says. "I don't like to talk about it because it affected my family so much.
"But I've been sober a long time now, and it's a great way to be. It allows me to enjoy this season even more. And let me tell you, I'm enjoying the heck out of this."
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I think I would sell and pay the $40k or so for two courtside season tickets. $100million is a lot of dough.
It'll be more, later.
Someones been reading the forums again....
Or you could hold on to your investment and let it continue to appreciate in value, and that $100 million becomes $200 million...
or teh team could fail and lose $150 mil or more. but I think if ur a milionaire already, this is just a hobby and u just dont give away your comics or baseball cards when you have really no need for the money, lol . Of course unless its to charity but this is a business.
You know how much those CATs are worth. The man is never selling as long as there is construction in this world.
Hey I'm just happy Red McCombs doesn't own the team anymore.
Mentioning Red reminded of when they used to dress the giant Indian in a Spurs Jersey. That was pretty cool. Is that Indian still there?
Didn't I say that earlier this year and then ChumpDumper argued with me for like 7 pages saying timvp was wrong?he would profit to the tune of more than $100 million by selling his share.
Actually, I questioned the accuracy of the Forbes report -- and this article only parrots their numbers. Their GM article only deepened my skepticism that they know of what they write when it comes to the NBA.
Peter Holt
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