The San Antonio Spurs are selling a minority ownership stake, according to Variety.com. The report suggests that it isn’t known which member of the National Basketball Association team’s ownership group is selling or how large a stake is available.
The Spurs are controlled by the Holt family, but the ownership group includes a number of investors. The Spurs are worth about $1.8 billion, according to Forbes magazine, meaning a 5% stake would cost about $90 million.
In a statement, chairman Peter J. Holt says: “As an ownership group we remain 100 percent committed to the city of San Antonio.”
