Spurs owner Peter Holt today donated $500,000 to set up a scholarship program at Texas A&M San Antonio, 1200 WOAI news reports.
Holt said he has been a big supporter of the university since well before its inception, because of the location of his business, HOLT CAT, on the city's south side.
"It has been exciting to see a major university established in south San Antonio to offer a close, affordable option for a first class education to young people in this area," Holt said.
Holt will also contribute to build a statue of the late State Sen. Frank Madla in front of the main building at Texas A&M San Antonio, which has also been named for Madla.
"As the students that use these scholarships get their education and go out into the world, I would prefer they stay right here in San Antonio," Holt said.
Texas A&M San Antonio President Maria Hernandez Ferrier says the university will award 25 scholarships per year to undergraduate and graduate students in the amount of $4,000 per year.