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In 1953 he opened his own used-car business in Corpus and picked up extra money by selling auto insurance to customers. Soon Edsel awarded him his first new-car dealership. He was such a good salesman that he could even sell the industry’s most notorious flop: His franchise was one of the few in the nation to turn a profit. The next year, McCombs was feeling a little flush, so he spent $10,000 to buy his first sports team: the Corpus Christi Clippers of baseball’s Big State League. “When I bought the Vikings, I was asked how it felt to pay that much money for a team,” McCombs says today. “All I could think of was that it was no big deal compared to the risk I took with the Clippers.” The reason: $10,000 in 1954 was a much greater percentage of his total assets than $250 million was in July 1998. Owls Make Me Happy Humans Make My Head Hurt Shirt
Four years later, in January 1958, McCombs moved to San Antonio and went into partnership with Austin Hemphill, who owned a Ford dealership. During the next two decades, McCombs bought out Hemphill and started more than 25 new dealerships in the Southwest. He began branching out in almost every conceivable direction. A large investment in one bank, South Main in Houston, led to other investments in other banks. The purchase (with partner Lowry Mays) of San Antonio’s largest radio station, WOAI, led to the founding of Clear Channel Communications, which now owns or operates more than seven hundred stations around the world. Investments in hotels led to investments in restaurants (he is a part owner of the Old San Francisco Steak House chain), which led to underwriting movies, including The Verdict and Romancing the Stone. “My unbreakable rule is that I don’t buy into things I don’t feel a personal passion about,” says McCombs. “The trouble is I feel passionate about a great many things. I hurt when things go wrong, and I feel a great high—positive elation—when things go well.”
One thing McCombs has definitely felt passionate about is San Antonio itself. After HemisFair in 1968, he turned his attention to helping the city solidify its identity. Five years later, he and a business partner, Angelo Drossos, leased and later bought the Dallas Chaparrals of the old American Basketball Association and moved them to San Antonio, where they were rechristened the Spurs after the local newspapers held a name-the-team contest. Even today McCombs has strong ties to the Spurs, which he has owned twice (he sold his interest in 1982, bought the team again in 1988, and sold it again in 1993). From his front-row seat, he cheered wildly for the Spurs over the Minnesota Timberwolves in the first round of the 1999 NBA playoffs, even though he now has an allegiance to Minnesota.
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