News
Aramark Divests Portion of Ownership in NBA Team
May 10, 2023
Aramark has reached an agreement to sell half of its equity in the NBA’s San Antonio Spurs for about US$100 million to an undisclosed buyer.
The company is looking to exit its ownership of the NBA team, which Aramark has owned a stake in since 2001. The sale will not impact Aramark’s operations at the Spurs’ home court of AT&T Arena, where the company is contracted to provide facility services.
“We sold approximately half our interest because there was a buyer who was working with the team to establish an ownership position,” said John Zillmer, Aramark CEO. “It is not our intention to hold on to the other part of our ownership.”
About Aramark
Aramark provides food services, facilities management, and uniform and career apparel to healthcare institutions, universities and school districts, stadiums and arenas, and businesses around the world. For more information, visit www.aramark.com.
