Sixth Street Partners and Michael Dell agreed to acquire minority stake in San Antonio Spurs, L.L.C. from AT&T Inc. (NYSE:T) and selling investor consortium on April 21, 2021. The transaction is approved by NBA Board of Governors. The transaction is expected to close next week. Guggenheim Securities, LLC acted as financial advisor to the selling investor consortium. The Raine Group LLC and Wasserman acted as financial advisor to Sixth Street Partners. Allen & Company, LLC consulted for the Holt family. Eric Swedenburg of Simpson Thacher & Bartlett LLP acted as legal advisor to Sixth Street Partners. Edward Barnett and Frank Saviano of Latham & Watkins acted as legal advisor to Michael Dell. Hogan Lovells acted as legal advisor to San Antonio Spurs, L.L.C.

Sixth Street Partners and Michael Dell completed the acquisition of minority stake in San Antonio Spurs, L.L.C. from AT&T Inc. (NYSE:T) and selling investor consortium on June 18, 2021. John Kupiec, Kaam Sahely, David Peck, Sean Becker, David D'Alessandro, Matt Dobbins, Michael Holmes, Matt Stammel and Chris Dewar of Vinson & Elkins LLP acted as legal advisor to sixth street partners.