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NBA Spurs Dell Investment Aided by Norton Rose, Vinson & Elkins

June 23, 2021, 10:55 AM

Norton Rose Fulbright said it’s advising the NBA’s San Antonio Spurs and a selling consortium on an investment in the team by private equity firm Sixth Street Partners and Dell Technologies chief Michael Dell.

Vinson & Elkins said it’s advising San Francisco-based Sixth Street on the transaction, for which no financial details were disclosed.

The team said the investment, and a promotion of its chairman, Peter J. Holt, to managing partner, have been approved by the NBA Board of Governors. The Holt family has led the team for over two decades and remains its largest shareholder.

Dell, who was born and grew up in Houston, has his company headquartered near Austin.

“As a Texan and as someone who appreciates how unique a culture of excellence is--in sports or in any organization--I have tremendous respect for the record the Spurs have established in San Antonio over many years,” Dell said. “It is our goal to serve as true stewards of the franchise going forward.”

To contact the correspondent on this story: Rick Mitchell in Paris at rmitchell@correspondent.bloomberglaw.com
To contact the editor responsible for this story: Chris Opfer at copfer@bloomberglaw.com; John Hughes in Washington at jhughes@bloombergindustry.com

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