The family of the man heavily responsible for the San Antonio Spurs' existence in the city is back in the fold.

The McCombs family is joining the Spurs investor group as its newest strategic partner in a move that has been approved by the NBA Board of Governors and executed.

The move continues a historic partnership between the Silver and Black and the McCombs family. In 1973, Red McCombs and Angelo Drossos led a group of San Antonio businessmen to lease the ABA's (American Basketball Association) Dallas Chaparrals with a three-year option to buy the team outright. The moves came after McCombs had played an instrumental role in the development of HemisFair Arena in conjunction with the 1968 World's Fair. The McCombs-Drossos group moved the team to the Alamo City and renamed them the Spurs.

The rest, as they say, is history.

“Red, Charline and the entire McCombs family mean so much to the Spurs and San Antonio,” Spurs Sports & Entertainment managing partner Peter J. Holt said, “To see the McCombs family come full circle and officially welcome them back into our investor group is beyond special. Red was a visionary whose bold work shaped San Antonio and put us on the global map. The McCombs family is continuing his legacy and together with our entire investor group, we are committed to seeing the Spurs and this great city thrive.”

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 Holt 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, Joe Gebbia, Airbnb Co-Founder and Chairman of Airbnb.org, Kimberly Lewis, founder of investment management company KSL Resources, and Paul Viera, founder of global investment firm EARNEST Partners have joined the Spurs investor group as strategic partners.

The Spurs' latest partner was also their first. Under McCombs, the Spurs, featuring “The Iceman” George Gervin, became one of only four ABA teams that transitioned into the NBA. After selling off his stake in the Spurs to buy the Denver Nuggets, McCombs bought the Spurs in 1989 – they welcomed David Robinson a season later – and owned them until 1993. In 1998 he bought the Minnesota Vikings before selling in 2005.

At the age of 95, Red McCombs died in February of this year.

The McCombs family has called San Antonio home since 1958. Beginning with celebrated philanthropist Charline and legendary businessman Red, the family now spans four generations and 32 children, grandchildren, and great-grandchildren. Today, McCombs Enterprises, the family office led by second and third-generation family members, carries the legacy of Red and Charline forward through its charitable efforts, local car dealerships, real estate development and energy investing.

“The entire McCombs family is thrilled to renew our connection to the Spurs and join Peter John, Corinna, and the Holt family as Strategic Partners,” Joseph Shields, grandson of Charline and Red McCombs, and Executive Vice President of McCombs Enterprises, said.

The Spurs, now armed with super rookie Victor Wembanyama but struggling through a 4-23 season thus far, have won five NBA championships since moving to San Antonio and have become a model in American sports.