McCombs family return to San Antonio Spurs ownership explained

• The McCombs family, with patriarch Red McCombs as a key figure, has re-entered the ownership sphere of the San Antonio Spurs after a 30-year hiatus
• Red McCombs, who played a crucial role in establishing the Spurs and relocating them to San Antonio in 1973, owned a share of the team for 11 years, contributing to its early success before selling the franchise in 1993
• The McCombs family’s renewed association with the Spurs reflects a commitment to preserving Red McCombs’ legacy, and their official return to the investor group

Former San Antonio Spurs owners, The McCombs family has purchased a share of the San Antonio Spurs, returning to the NBA franchise after 30 years to the organization its patriarch helped establish and once owned. This rekindling of ties holds immense sentimental value, considering Red McCombs’ pivotal contributions to the franchise’s establishment and early success.

Red McCombs, a visionary figure in sports ownership, held ownership stakes in the San Antonio Spurs for a remarkable 11 years, five of which he spent as the primary owner. His influence and foresight were instrumental in the relocation of the franchise to San Antonio for the 1973 ABA season. Alongside a group of local investors, McCombs acquired the then-Dallas Chaparrals of the ABA, setting the stage for the Spurs’ enduring legacy in San Antonio.

The recent acquisition of a share in the Spurs by the McCombs family carries significant emotional weight, especially in the wake of Red McCombs’ passing on February 19 at the age of 95. Despite his extended illness, Red McCombs left an indelible mark on the Spurs and the city of San Antonio. His visionary leadership and bold initiatives were crucial in elevating the Spurs to a position of prominence in the NBA.

The McCombs family has bought shares in the NBA franchise San Antonio Spurs. | PHOTO: NBA |

Peter J. Holt, managing partner of Spurs Sports & Entertainment, expressed the profound impact of the McCombs family’s return to the Spurs’ investor group. Holt acknowledged Red, Charline, and the McCombs family’s meaningful contributions to the Spurs and San Antonio. The sentiment of seeing the McCombs family come full circle and officially rejoin the investor group resonates as a testament to Red McCombs’ enduring legacy.

RELATED: NBA jersey worn by Victor Wembanyama on his San Antonio Spurs debut sells for record

While the exact size of the McCombs family’s investment remains undisclosed, the symbolic value of their return transcends monetary considerations. It represents a connection to the rich history of the San Antonio Spurs and a commitment to sustaining the legacy that Red McCombs helped establish. The re-entry of the McCombs family into the Spurs’ ownership structure aligns with the organization’s ethos of fostering a sense of community and continuity.

The relationship between Red McCombs and the Spurs underwent several phases. After selling his share of the franchise in 1978 to acquire the Denver Nuggets, McCombs returned as the primary owner of the Spurs in May 1988. This period marked a resurgence for the franchise under his leadership. However, McCombs eventually sold the Spurs in 1993 to an investment group led by Peter Holt, whose son currently oversees the team.

In the years following Red McCombs’ departure, the San Antonio Spurs experienced unprecedented success in the NBA. The franchise secured five NBA championships, a testament to the enduring impact of Red McCombs’ early contributions in shaping the team’s trajectory. The Spurs also made pivotal draft selections, including legendary players like David Robinson in 1987, Tim Duncan in 1997, and the highly touted Victor Wembanyama in 2023 as the No. 1 pick.

Red McCombs’ involvement in sports ownership extended beyond the NBA. He owned the Minnesota Vikings from 1998 to 2005, further cementing his stature as a respected figure in the sports industry. As his health declined, McCombs made the decision to sell the Vikings in 2005, marking the end of his ownership tenure in the NFL.

For the McCombs family, which spans four generations, the agreement to join the Spurs’ investment group through McCombs Enterprises represents a new chapter in their sports ownership legacy. Having not held an ownership stake in any sports team in recent years, this move signifies a return to the family’s roots and a continuation of Red McCombs’ impactful legacy.

The NBA board of governors has officially approved and executed the McCombs family’s return to Spurs ownership. They join an esteemed ownership group that includes the Holt family, Michael Dell (CEO and founder of Dell Technologies), Joe Gebbia (co-founder and chairman of Airbnb), Kimberly Lewis (founder of KSL Resources), Paul Viera (founder of EARNEST Partners), and the global investment firm Sixth Street. Within this diverse ownership structure, the Holt family remains the largest shareholder.