Peter Holt retires as Spurs owner, hands reins to wife

Longtime San Antonio Spurs owner Peter Holt has stepped down as the organization's chairman and CEO, handing over both roles to his wife, Julianna Hawn Holt.

"I'm proud of what we've achieved over the last two decades," Holt said Wednesday. "The championships are wonderful, bringing new sports franchises to San Antonio is important, but the biggest accomplishment for me will always be the impact we've had in our community. The pride, support, and love that our city has for the Spurs is truly amazing."

San Antonio has been one of the most successful franchises in professional sports since Holt took over as the largest shareholder in 1996. In addition to winning five championships, the Spurs have reached the postseason in each of the last 19 years.

Julianna Hawn Holt welcomes the challenge her new role will bring.

"Our ownership in the Spurs has always been a family affair," she said. "For many years I've had the desire to take a more active role with Spurs Sports & Entertainment. We felt this was the right time to make this transition. We are very excited about the current Spurs season and the future of the organization."