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Businessman Paul Viera has recently made a significant investment in the San Antonio Spurs, doubling his stake in the team from 5% to 11%. This move comes as NBA team valuations continue to rise, making them increasingly attractive assets for investors. Viera, who is the founder and CEO of the Atlanta-based investment firm Earnest Partners, acquired the additional stake by purchasing food service company Aramark’s remaining interest in the Spurs at a discounted rate.

Viera’s decision to increase his ownership in the Spurs highlights the growing trend of investors seeking opportunities in professional sports teams. The deal, which values the Spurs at $2.5 billion, was completed at a steep discount, allowing Viera to expand his stake in the team while potentially reaping significant returns in the future. This strategic move reflects Viera’s confidence in the Spurs as a valuable asset within the competitive landscape of the NBA.

The San Antonio Spurs, a storied franchise with a rich history of success, have faced challenges in recent years, including a decline in performance on the court. Despite this, the team’s ownership structure remains strong, with Peter Holt serving as the majority owner through Spurs Sports & Entertainment. Holt, who has been involved with the team since 1996, oversees operations at the Frost Bank Center, the Spurs’ home arena.

In addition to Viera, the Spurs boast a diverse group of minority owners, including prominent figures such as Dell Technologies CEO Michael Dell, Sixth Street Partners, the McCombs family, and former NBA star David Robinson. This blend of ownership reflects the increasing diversity within professional sports ownership groups, as more individuals from varied backgrounds and industries seek to invest in the lucrative world of professional sports.

The Spurs’ recent struggles on the court, including a disappointing 22-60 record in the 2023-24 season, have not deterred investors like Viera from recognizing the team’s long-term potential. With rising star Victor Wembanyama emerging as a key player for the Spurs, there is optimism that the team’s fortunes may soon turn around, both in terms of on-court performance and financial stability.

Viera’s decision to increase his stake in the Spurs aligns with a broader trend in the NBA, where teams are increasingly being viewed as valuable assets due to the league’s lucrative media rights deals. The NBA’s $76 billion, 11-year media deal has significantly boosted the value of franchises, making them attractive investment opportunities for individuals looking to capitalize on the growing popularity of professional basketball.

In a similar move to Viera’s investment in the Spurs, former Milwaukee Bucks star Junior Bridgeman recently acquired a 10% stake in the Bucks at a valuation of $4 billion, underscoring the robust financial opportunities available in the NBA. Bridgeman’s purchase, like Viera’s, reflects the ongoing trend of former players and diverse investors becoming involved in team ownership, further diversifying the landscape of NBA ownership groups.

As the NBA continues to evolve and expand its reach globally, the value of owning a professional basketball team has never been higher. With increasing interest from investors like Viera and Bridgeman, as well as the potential sale of the Boston Celtics for an estimated $5.5 billion to $6 billion, the financial landscape of the NBA is poised for continued growth and development.

In conclusion, Paul Viera’s decision to double his stake in the San Antonio Spurs highlights the enduring appeal of professional sports teams as investment opportunities. With NBA valuations on the rise and a diverse group of owners involved in team ownership, the future looks bright for the Spurs and other franchises seeking to navigate the ever-changing landscape of professional sports.