McCombs family returns as part owners of San Antonio Spurs

The family of B.J. “Red” McCombs, the late billionaire credited with bringing the Spurs to San Antonio,  is once again a part owner of the NBA team.

The McCombs family joins the Spurs’ investor group as a strategic partner, according to team officials. The NBA Board of Governors approved the transaction Wednesday.

Working with Angelo Drossos, a friend and Alamo City stockbroker, auto dealer McCombs bought the American Basketball Association’s Dallas Chaparrals in 1973, relocating the team to the Alamo City and rechristening it the Spurs. McCombs is said to have named the team after his home town of Spur, Texas, the Express-News reports.

“’Red,’ Charline, and the entire McCombs family mean so much to the Spurs and San Antonio,” Spurs Sports and Entertainment managing partner Peter J. Holt said in a statement. “To see the McCombs family come full circle and officially welcome them back into our investor group is beyond special.”

In 1993, McCombs’ family sold off its share in the team for $75 million. It hasn’t held a stake in the franchise since.

“The entire McCombs family is thrilled to renew our connection to the Spurs and join Peter, Corinna and the Holt family as strategic partners,” Executive Vice President of McCombs Enterprises Joseph Shields said in a statement.

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This article appears in Dec 13-26, 2023.