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The Spurs' majority owner is Peter Holt, managing partner of Spurs Sports & Entertainment, which also operates the team's arena, the Frost Bank Center. Last May, Viera bought a 5% stake in the Spurs for an undisclosed enterprise value. Partial team owners can get major discounts when they buy small pieces of teams that give them less control over decisions. Businessman Paul Viera is increasing his stake in the San Antonio Spurs from 5% to 11%, CNBC has learned, as NBA valuations climb and make teams more attractive assets for investors. NBA teams are hot assets thanks in large part to the league's new $76 billion, 11-year media deal.
Persons: Peter Holt, Holts, Michael Dell, McCombs, David Robinson, Viera, Earnest, Paul Viera, Victor Wembanyama, Junior Bridgeman, Dee Haslam, Marc Lasry's, Bridgeman, Grant Hill, Penny, Hardaway, Robinson, Dwyane Wade, Elliot Perry, Michael Jordan, Wyc Grousbeck, Aramark Organizations: San Antonio Spurs, Golden State Warriors, T Center, Spurs, Spurs Sports & Entertainment, Frost Bank Center, Dell Technologies, Sixth Street Partners, Earnest Partners, CNBC, NBA, Southwest Division, Milwaukee Bucks, Bucks, Atlanta Hawks, Memphis Grizzlies, Utah Jazz, Grizzlies, Charlotte Hornets, Boston Celtics, Grousbecks, Celtics Locations: San Antonio , Texas, Atlanta
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBoston Celtics Governor Wyc Grousbeck on team's championship, succession planning and potential priceWyc Grousbeck, Boston Celtics governor and majority owner, joins 'Closing Bell' to discuss the team's history, record championship and selling of the family's stake.
Persons: Wyc Grousbeck Organizations: Boston Celtics
The PGA Tour logo is seen during the third round of the Travelers Championship at TPC River Highlands in Cromwell, Connecticut, on June 24, 2017. A U.S. consortium has agreed to invest up to $3 billion into the PGA Tour, the professional golf organization announced on Wednesday. Under the terms of the deal, the investor, Strategic Sports Group, will become a minority owner in PGA Tour enterprises, the for-profit entity of the PGA Tour. "Today marks an important moment for the PGA Tour and fans of golf across the world," PGA Tour Commissioner Jay Monahan said. "By making PGA Tour members owners of their league, we strengthen the collectives investment of our players in the success of the PGA Tour," Monahan said.
Persons: LIV, PIF, Jay Monahan, " Monahan, Fenway Sports Group's John Henry, Arthur Blank, Steve Cohen, Tom Ricketts, Wyc Grousbeck, John Henry, Monahan, Henry, Yasir Al, Rumayyan, Critics, Prince Muhammad bin Salman, LIV Golf, Phil Mickelson, Dustin Johnson, Brook Koepka, John Rahm Organizations: PGA Tour, Strategic Sports Group, Saudi, PGA, Fenway Sports, Atlanta Falcons, Arthur Blank , New York Mets, Chicago Cubs, Boston Celtics, Fenway Sports Group, Saudi Public Investment Fund, Saudi Public Investment, CNBC, Justice Department Locations: Cromwell , Connecticut, U.S, Arthur Blank ,, Saudi Arabia, Saudi
PEBBLE BEACH, Calif. (AP) — The PGA Tour is getting a $3 billion investment from Strategic Sports Group in a deal that would give players access to more than $1.5 billion as equity owners in the new PGA Tour Enterprises. PGA Tour Commissioner Jay Monahan was holding a conference call with players about the deal that was finalized Tuesday night. Political Cartoons View All 253 Images“By making PGA Tour members owners of their league, we strengthen the collective investment of our players in the success of the PGA Tour,” Monahan, who will be CEO of PGA Tour Enterprises, said in the formal announcement. While specific details of the equity ownership program were not announced, the initial grants would be based on career accomplishments, recent achievements and PGA Tour status. The European tour was part of the framework agreement on June 6, and it has a strategic alliance with the PGA Tour.
Persons: LIV Golf, Jay Monahan, ” Monahan, Marc Attanasio, Arthur Blank, Steven Cohen, Wyc Grousbeck, Tom Werner, John Henry, Marc Lasry, Alec Scheiner, , Henry, Woods, Patrick Cantlay, Adam Scott, Jordan Spieth, Webb Simpson, Peter Malnati, Yasir Al, Sen, Richard Blumenthal, Conn, LIV, Dustin Johnson, Brooks Koepka, Phil Mickelson, Bryson DeChambeau, PIF, Jon Rahm, Tyrrell Hatton, ___ Organizations: Strategic Sports Group, Tour Enterprises, PGA Tour, SSG, Associated Press, Washington Post, Public Investment Fund, PGA, SSG —, Tour, Fenway Sports Group, Milwaukee Brewers, Atlanta Falcons, New York Mets, Boston Celtics, Boston Red Sox, Milwaukee Bucks, Cleveland Browns, RedBird, Fenway Sports, PGA Tour Enterprises, Saudi, Monday, PIF Locations: Calif, Saudi, Saudi Arabia, PIF, Mexico
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBoston Celtics co-owner on the team, sovereign funds, Cincoro Brand and moreWyc Grousbeck, Boston Celtics co-owner, joins 'Closing Bell: Overtime' to discuss the sports market and the NBA's new ownership policy.
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