Philadelphia-based Aramark owned more than 10 percent of the NBA franchise as of 2016, making it one of the largest shareholders.
in the San Antonio Spurs franchise to an unidentified buyer for about $100 million and is looking to sell the rest too.
“There was a buyer who was working with the team to establish an ownership position, and that’s what that buyer wanted to buy with respect to that chunk of ownership,” Zillmer said during a call with analysts to discuss his company’s quarterly financial results.The sale of the remainder of Aramark’s ownership stake is expected to generate a similar amount.
Aramark provides concession services to the Spurs at the AT&T Center and recently signed an extension agreement with the franchise, which was a condition of the sale of the company’s stake, Zillmer said.
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