Feb. 21 (UPI) -- Texas billionaire Billy Joe "Red" McCombs, who previously owned the NBA's San Antonio Spurs and Denver Nuggets and the NFL's Minnesota Vikings, has died, his family announced. He was 95.
The McCombs family announced that he died "peacefully" Sunday at his home in San Antonio, but did not provide a cause of death.
"The entire McCombs Family is heartbroken to announce that our father, grandfather, and great-grandfather, Red McCombs, passed away on Sunday," the family said in a statement posted on social media. "As he drew his last breath peacefully at home, he was surrounded by family who loved and adored him.
"Red was a visionary entrepreneur who touched many lives and impacted our community in immeasurable ways. But to us he was always, first and foremost, 'Dad' or 'Poppop.' We mourn the loss of a Texas icon."
Related
McCombs founded Red McCombs Automotive Group and was a co-founder of Clear Channel Communications. He owned more than 400 businesses during his lifetime, according to McCombsEnterprises.com.
"Without him, there would be no Spurs," the Spurs said in a news release. "Today we mourn with the McCombs family. Red, you were one of the most influential San Antonians in our city's long history. Thank you for your courageous commitment and unwavering love for our city and team."
McCombs bought the Dallas Chaparrals of the ABA and relocated the team to San Antonio in 1973, when they became the Spurs. They played their first NBA season in 1976, when the leagues merged.
McCombs sold his portion of the Spurs in 1982. He then bought the Nuggets. McCombs later sold the Nuggets and rebought his share of the Spurs. He later bought out the Spurs' other investors in 1988 and resold the team for a final time in 1993.
McCombs bought the Vikings in 1998 for $246 million. He sold the team to the Wilf family in 2005 for $600 million. He later went on to become an investor in the Circuit of the Americas in Austin, the first Formula-1 focused track in the United States.
He is survived by three daughters, eight grandchildren and 11 great grandchildren.
