Red McCombs, the former owner of the NFL’s Minnesota Vikings and NBA franchises in San Antonio and Denver who was credited with helping to modernize the basketball league, has died at the age of 95, his family announced Friday.
“We mourn the loss of a Texas icon,” the family’s statement said.
The billionaire businessman started his sports empire by purchasing the Dallas Chaparrals from the American Basketball Association and moving them to San Antonio in 1973, where they were named the Spurs.
The Spurs joined the National Basketball Association when they joined the league in 1976 and won five NBA crowns.
“Red McCombs brought the Spurs to San Antonio and was a driving force in creating the modern NBA,” said league commissioner Adam Silver.
“He was a brilliant innovator and entrepreneur who never shied away from taking risks. We are saddened by Red’s passing.
McCombs sold his stake in the Spurs in 1982 to buy the Denver Nuggets, then sold it in 1985 and bought back the Spurs before selling it again in 1993.
“RIP Red McCombs. He was a legendary figure in San Antonio and had a huge impact on my life. We will miss you!” tweeted iconic center David Robinson, a two-time NBA champion and 1995 NBA Most Valuable Player with the Spurs.
In 1998, McCombs bought the NFL’s Vikings for $246 million and owned them until 2005 when, frustrated by the inability to build a new stadium, he sold the team for $600 million to current owner Zygi Wilf.
“The Minnesota Vikings are saddened by the passing of former team owner Red McCombs,” the NFL club said in a statement.
“Red embodies the famous ‘Purple Pride’ phrase and remains a staunch Viking fan after passing the torch to the Wilf family in 2005.”
McCombs is also an investor in a Kentucky thoroughbred horse farm and the Circuit of the Americas auto racing course near Austin, Texas.