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  Peter Holt   San Antonio Spurs ESPN



Total Value
$287 million


Term of Ownership: Since 1996
Business: Holt Companies, CEO


Forbes Team Values:
San Antonio Spurs: $287 million
Total value: $287 million

A fourth-generation CEO, Peter M. Holt was born heir to a tractor empire. His great-grandfather, Benjamin Holt, invented the first practical, track-type tractor in 1904 and named it the Caterpillar. By the 1940s, the Cat tractor was widely used in the Midwest and the Holt Company began flourishing outside their original headquarters of Ohio. Peter Holt is the current CEO of the national company that distributes, repairs, rents and consults on their famous-name Cat tractors. In 1990, Holt Power Systems was added to the company billing. Holt leads the partnership group, composed of 22 local members, who bought the San Antonio Spurs from B.J. "Red" McCombs, the current owner of the Minnesota Vikings, in 1993. Holt first bought into the team in 1996, purchasing 13 percent. Three months later, he became the majority owner when he acquired the 18 percent share from Gaylord Entertainment. The Spurs won their first NBA Championship in 1999, and have relied heavily on "Twin Towers," Tim Duncan and David Robinson, to keep the franchise contending in post-seasons. The $175 million SBC Center is set to open as the Spurs new facility for the 2002-2003 season.