Peter Holt, the head of the San Antonio Spurs' ownership group, retired on Wednesday after approximately two decades at the helm of one of pro sports' most consistently winning franchises.
Bleacher Report's Sean Highkin passed along the news and featured quotes from Holt and his wife, Julianna Hawn Holt, who will take over as CEO and chairman:
NBA Commissioner Adam Silver released a statement on the decision, per Jeff McDonald of the San Antonio Express-News:
Julianna will also take over her husband's post as the governor on the NBA's Board of Governors. The Spurs have won five championships since Peter Holt and Co. took control of the team.
Spurs Sports & Entertainment provides San Antonio with a unique organizational infrastructure that has produced undeniable results.
General manager R.C. Buford and the front office have done a phenomenal job evaluating talent, while head coach Gregg Popovich has been in place since Holt's reign began.
The quotes from Julianna Hawn Holt imply how much of a collaborative effort running the Spurs has been between the ownership group, and there shouldn't be any problems moving forward.
As long as San Antonio's winning culture is intact, the Spurs should enjoy trips to the playoffs on an annual basis. The franchise's leadership is a big reason why such a positive environment exists; the owners' contingent counts former Spurs great David Robinson as a partner.
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Even with veterans such as Tim Duncan, Manu Ginobili and Tony Parker nearing the end of their careers, San Antonio has posted a 54-10 record thus far in 2015-16.
The arrival of All-Star LaMarcus Aldridge this past offseason at least ensures a quality player will fill Duncan's position once he's retired. Former NBA Finals MVP Kawhi Leonard is also one of the better all-around players in the game and has joined Aldridge as a face of the franchise's future.
Only the mighty Golden State Warriors are ahead of the Spurs in the standings and should beware of the veteran squad. San Antonio is the biggest threat to dethrone the current defending NBA champions in the West.