Holt, 67, has held both jobs since 1996, when he became the franchise’s largest shareholder. His wife, Julianna Hawn Holt, will take over both positions. Holt will remain on the Spurs Sports and Entertainment board of managers and remain part of the ownership group, while his wife takes his place on the NBA’s Board of Governors.

Under Holt’s leadership, the Spurs have won five NBA titles (1999, 2003, 2005, 2007, 2014). Gregg Popovich moved from the front office to the head coaching role during the 1996-97 season, and with a core built around Tim Duncan (the No. 1 overall pick in the 1997 draft), San Antonio evolved into one of the league’s most stable, successful franchises. The Spurs have made the playoffs in 19 consecutive seasons.

“I’m proud of what we’ve achieved over the last two decades,” Holt said in a statement. “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.”

“Our ownership in the Spurs has always been a family affair,” Hawn Holt 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.”

NBA commissioner Adam Silver also released a statement regarding Peter Holt’s impact on the organization and the league.

https://twitter.com/APkrawczynski/status/707765045355094016/photo/1?ref_src=twsrc%5Etfw

The Spurs are 54–10 entering Thursday’s game against the Bulls, opening a five-game homestand that includes the Thunder, Clippers, Trail Blazers and Warriors.

– Jeremy Woo