SAN ANTONIO – Many are wondering the fate of the San Antonio Spurs franchise after majority owner and chairwoman of Spurs Sports and Entertainment, Julianna Hawn Holt, filed for divorce from her husband Peter Holt.

Hawn Holt quelled concerns about the future of the team after news of the divorce filings became public.

"The franchise is safe," Hawn Holt told KSAT-12 in a statement. "We are dedicated and committed to continued success."

According to court documents, Hawn Holt filed for divorce on Dec. 22 on the grounds that the marriage had become insupportable because of discord or conflict of personalities between her and her husband "that destroy the legitimate ends of the marriage relationship and prevents any reasonable expectation of reconciliation."

The Holts married in 1985 and became the largest shareholders of the team in 1996. Holt surprised many when he relinquished control of the team to his wife in March of 2016. Holt has since been out of the public eye.

According to the petition, Hawn Holt and Holt will enter into an agreement for the division of their estate. The clause raised questions about the future of the franchise.

A spokesperson for the San Antonio Spurs said SSE has no comment on the divorce.

The Spurs have advanced to the playoffs 20 straight seasons and won at least 50 games or more in 18 straight seasons.