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Businessman Paul Viera is increasing his ownership stake in the San Antonio Spurs from 5% to 11%, as NBA team valuations continue to rise, making them attractive assets for investors. Viera recently acquired the remaining interest in the Spurs from food service company Aramark at a discounted price, valuing the team at $2.5 billion. The Spurs’ majority owner is Peter Holt, while other minority owners include Dell Technologies CEO Michael Dell, Sixth Street Partners, the McCombs family, and former NBA player David Robinson.
The Spurs, winners of five NBA titles, have not made the postseason since 2019 but are hopeful with rising star Victor Wembanyama. NBA teams are in high demand due to the league’s lucrative new media deal. Recent transactions, such as Junior Bridgeman’s purchase of a stake in the Milwaukee Bucks, highlight the increasing value of NBA teams.
Diverse ownership in professional basketball is on the rise, with former players and people of color joining ownership groups. The Celtics are also attracting attention, with co-owner Wyc Grousbeck looking to sell his stake in the reigning NBA champions for an estimated $5.5 billion to $6 billion. The NBA has been actively promoting diversity among team owners, with several former players holding minority stakes in various teams.
Viera’s investment in the Spurs marks a significant move in the evolving landscape of NBA team ownership.
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Emily Jensen, graduated from the London School of Economics and Political Science (LSE) in the UK in 2015 with a degree in Economics. She specializes in financial markets and international trade. After graduating, she worked as an analyst at an investment bank in London, where she developed expertise in global economic trends. She later transitioned into consulting, focusing on fintech ventures and providing insights into global economic developments. Emily is passionate about the intersection of finance and technology and aims to drive innovation in the financial sector.
