Spurs majority owner Julianna Hawn Holt files for divorce, says 'the franchise is safe'

Spurs majority owner and and chairwoman, Julianna Hawn Holt, filed for divorce from her husband Peter Holt, but reassured fans that the franchise isn't on the market.

Spurs majority owner Julianna Hawn Holt files for divorce, says 'the franchise is safe'

Spurs majority owner Julianna Hawn Holt files for divorce, says 'the franchise is safe'

"The franchise is safe," Hawn Holt told KSAT-12 in a statement. "We are dedicated and committed to continued success."

The report states that Hawn Holt filed for divorce on December 22. The Holts married in 1985 and became the largest shareholders of the team in 1996. Their divorce came just before the Spurs, who have reached the playoffs 20 in straight seasons, was valued at nearly $1.6 billion, according to Forbes.

Court documents obtained by the San Antonio Express-News and KSAT-12 stated that the divorce had been filed on the grounds of conflict "that destroy the legitimate ends of the marriage relationship and prevents any reasonable expectation of reconciliation."

According to the report, Hawn Holt and Mr. Holt will enter into an agreement for the division of their estate, which raised questions about the future of the franchise.

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