SAN ANTONIO (May 16, 2023) – The San Antonio Spurs today announced that Paul Viera, founder of global investment firm EARNEST Partners, has joined the Spurs investor group as a strategic partner and a member of the board of managers. Viera’s acquisition of an equity stake in the Spurs 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. “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.”
Viera is the founder and Chief Executive Officer of EARNEST Partners, a global investment firm responsible for overseeing over $40 billion for municipalities, states, corporations, endowments, and universities. He earned a bachelor’s in economics from the University of Michigan, an MBA from the Harvard Business School, and has over 30 years of investment experience. Viera is based in Atlanta and serves as a board of director of Take-Two Interactive, publisher of NBA 2K, trustee of the Woodruff Arts Center and a member of its investment committee, board member of National Center for Civil and Human Rights, and member of the Council on Foreign Relations and the Harvard Business School Board of Dean Advisors.
“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.”
Peter J. Holt assumed the Spurs Chairman role in March of 2019 and was named Managing Partner in June 2021. Peter and his sister, Corinna Holt Richter, represent the family on the organization’s board of managers. The Holt family remains the largest shareholder of the San Antonio Spurs. Since 2021, Sixth Street, a leading global investment firm, Michael Dell, CEO and founder of Dell Technologies, and Joe Gebbia, Airbnb Co-Founder and Chairman of Airbnb.org, and have joined the Spurs investor group as strategic partners.
“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.”
Guggenheim Securities, LLC acted as the financial advisor on the transaction.
About Spurs Sports & Entertainment
Spurs Sports & Entertainment (SS&E) is a value-based and community-centric sports and entertainment company that provides premier live and global digital experiences for fans across a portfolio of three teams and two venues – all supported by a passionate staff of more than 1,000 full and part-time employees. SS&E owns and operates the San Antonio Spurs (NBA), Austin Spurs (NBA G League), and San Antonio FC (USL), as well as manages the day-to-day operations of the AT&T Center, Toyota Field and STAR Complex. In November 2021, SS&E broke ground on The Rock at La Cantera, a multi-phase $500 million legacy project that will extend across 45 acres and feature a human performance research center, 22-acre park, a community outdoor event plaza and space for medical, hospitality and office use. The campus will be home to the new Victory Capital Performance Center, a state-of-the-art training facility for the San Antonio Spurs, which is scheduled to open late summer of 2023. The SS&E investor group is led by Managing Partner Peter J. Holt.