Spurs announce Paul Viera, founder of EARNEST Partners, joins investor group

Viera joins the franchise as a strategic partner and member of the board of managers.

SAN ANTONIO — The San Antonio Spurs have announced Paul Viera, founder of global investment firm EARNEST Partners, has joined the franchise’s investor group as a strategic partner and a member of the board of managers. 

The transaction has been approved by the NBA Board of Governors and closed today. 

“Paul is an exceptional business leader and we are excited to welcome him to the San Antonio Spurs investor group,” said Peter J. Holt, SS&E managing partner said in a statement. “Paul Viera brings a unique perspective and expertise to our organization and shares our commitment to integrity, success and community impact. His addition reaffirms our dedication to fostering diversity, promoting inclusion and building leaders and legacies. We are excited to work alongside Paul to achieve our shared vision for the future of the Spurs in San Antonio.”

“The San Antonio Spurs are a revered organization and I am honored to join Peter J. Holt and the other strategic partners as part of their investor group,” Viera said. “From the outset, I was drawn to the organization’s unique commitment to impact and building a more equitable community for everyone. The team’s leadership is elite, from their managing partner to the front office to the coaches, and I am thrilled to be joining such a winning organization. As someone who loves the game of basketball, I can’t wait to be a part of the excitement and energy on and off the court.”

In related news, Aramark recently sold its ownership stake in the team for $100 million.

“We sold approximately half our interest because there was a buyer who was working with the team to establish an ownership position,” Aramark CEO John Zillmer reportedly said in a call with Wall Street analysts Tuesday. “It is not our intention to hold on to the other part of our ownership.”

Sources say this move is connected to the Aramark sale.

New ownership in the team has been rising over the years.

Austin-based Michael Dell purchased a stake in the team in 2021, Austin’s Sixth Street bought into the Spurs in 2021, and Joe Gebbia, co-founder and chairman of Airbnb, became a minority owner of the team in 2022.

“We are forever grateful to our investors who have empowered us to thrive and become a beloved part of the San Antonio community,” said Peter J. Holt. “The Holt family is excited to continue working with all of our investors to innovate for the future and uphold our commitment to community impact.”

Twitter: @KENS5, @JeffGSpursZone

Original News Source

Click here for San Antonio HOA Management

GET FREE NEWS TODAY!

You Can Unsubscribe At Any Time!


This will close in 0 seconds