SAN ANTONIO — The makeover of the Spurs ownership group that began in summer 2021 continues.
On Tuesday, Spurs Sports & Entertainment announced that Airbnb co-founder and billionaire Joe Gebbia has joined the investor group as its newest strategic partner.
Managing partner Peter J. Holt continues to control team and business operations, according to a release from SS&E. The NBA of Governors has approved Gebbia as the franchise’s newest investor.
“Joe Gebbia has taken his passion of giving back to every corner of the world – from helping Afghan refugees find housing to working to eradicate homelessness in the United States,” Holt said in a statement. “His philanthropic and artistic vision coupled with his business acumen align with our values of building leaders and legacies within our communities. We are excited to welcome Joe to the Spurs Family.”
Seven months ago, the Spurs began a major reconstruction of the ownership group after 13 minority shareholders sold their shares to San Francisco-based global investment firm Sixth Street and billionaire Michael Dell, founder of Dell Technologies.
Sixth Street gained 20 percent of the franchise, while Dell bought into 10 percent.
SS&E did not reveal how much Gebbia, 40, owns.
Airbnb co-founder Joe Gebbia speaks at an event in London to announce Airbnb as a leading partner of the Olympics on November 19, 2019. – Airbnb today announced a nine-year deal to become a leading partner of the Olympics, promising safe and sustainable…