Spurs' founding family rejoins investor group

The McCombs family -- whose patriarch led the effort to bring the Spurs to San Antonio-- is "rejoining the franchise’s investor group." The family of B.J. "Red" McCombs is now "a strategic partner" in the group. The size of the family’s investment "is unclear." Spurs Sports & Entertainment said today the transaction "has closed" and the NBA BOG "approved it." In 1973, McCombs led "a group of 30 investors" who moved the Dallas Chaparrals of the ABA to San Antonio. McCombs sold his family's stake in 1982 to buy the Nuggets, which he sold in 1985. He "repurchased his interest" in the Spurs in 1986 and bought the entire the franchise in 1988. He then sold it again in 1993 for $75M. McCombs died Feb. 19 (SAN ANTONIO EXPRESS-NEWS, 12/20).