The owner of the yacht Adventurer II, who’s a high-profile sports entrepreneur, and his former captain are in a bitter legal dispute in Texas. The civil lawsuits raise accusations of smuggling controlled substances, wrongful termination, theft, and extortion.
The owner of the yacht Adventurer II, a 130-footer (39.62-meter), is Peter M. Holt. Holt was the CEO of the San Antonio Spurs NBA team for 20 years, with his family still holding the majority stake. He’s further the former CEO of Holt Cat, the largest Caterpillar dealership in the United States. He and the superyacht’s ownership company filed a lawsuit against his former captain, Jay Jones, on April 22 in Blanco County District Court. Jones sued Holt, the ownership company, and Holt Cat the following day in Harris County District Court.
Jones worked for Holt for more than 11½ years, primarily as captain of Adventurer II and her predecessor, the 94-foot (28.65-meter) Adventurer. He’s seeking back pay, loss of future earnings, and damages for mental anguish and damage to his career. The lawsuit does not specify a dollar figure, however. Jones’ suit also makes claims of wrongful termination due to intolerable and hostile working conditions. His complaint centers around allegations that Holt repeatedly asked him to obtain and transport drugs, including into the United States.
According to Jones’ lawsuit, the issues began in 2017. Holt asked him to retrieve luggage, including a rolling cooler, from a storage unit in Fort Lauderdale. Jones opened the cooler and discovered “copious amounts of marijuana in all forms imaginable,” court documents indicate. The captain says Holt requested he transport the luggage for him on his private jet. Afraid of losing his job, Jones states, he agreed.
Subsequent alleged incidents began in 2024 and lasted through 2025. These resulted in “the ultimate reduction by Peter Martin Holt and the other named Defendants of Plaintiff’s job description from captain, confidant, and friend to international drug smuggler,” the suit states. Jones claims that in December 2024, Holt requested he obtain Provigil and Xanax from Costa Rican pharmacies on his behalf without a prescription. Holt additionally wanted Jones to smuggle them back into the United States. The requests increased in frequency in March 2025. Furthermore, Jones claims to have a voicemail in which Holt instructs him to hide the medication aboard the yacht Adventurer. Adventurer was set to transit the Panama Canal from the Pacific Ocean in the near future.
Jones claims he agreed to obtain the drugs out of fear of losing his “dream job” and pay. He also claims that Holt’s girlfriend subjected him to verbal and emotional abuse, and that the yacht’s ownership company pressured him to continue working. Although he states he quit in January of this year, Jones’ lawsuit argues that Holt and his associates “effectively terminated” him by creating “a work environment so egregious” that any reasonable person would feel compelled to resign.
Holt’s lawsuit in Blanco County portrays a different situation, seeking more than $1 million. It also notes that Holt has struggled with addiction and post-traumatic stress since serving in Vietnam. However, it denies the claims of smuggling, a hostile working environment, and wrongful termination. “These allegations are false and at no time did Plaintiffs threaten employment-related actions against Jones for these alleged requests,” it states. “Nevertheless, Jones threatened to publicly disclose these allegations unless Plaintiffs attended a mediation (which they did) and paid millions of dollars (which they won’t).” It continues, “We call this what it is: extortion.”
Notably, Holt’s lawsuit acknowledge that he did ask Jones to purchase Xanax and Provigil one time. However, he claims he had proper prescriptions for each and clearly instructed Jones to “comply with any and all laws.” The captain fulfilled the request “without objection.”
Moreover, Holt alleges that he paid for maritime training that Jones never completed. Holt acquired the yacht Adventurer II in 2025, but Jones didn’t have the proper captain’s license to run her. Holt therefore arranged for coursework which, he alleges, the captain inexplicably cut short. Jones then demanded a raise shortly thereafter and was told no. “Jones resigned as Plaintiff’s boat captain and initiated his extortion plan,” the lawsuit states. This included taking photos of the claimed prescription drugs and marijuana and sending a demand letter.
Finally, Holt’s lawsuit states, Jones charged repeated unauthorized expenses to the company. An audit following Holt’s departure reportedly uncovered more than $300,000 in airline tickets, some for family and friends. Overall, Holt claims “Jones diverted in excess of $1,000,000…to himself and his family without authorization. A forensic audit may uncover additional monies owed.”
Jones is seeking a jury trial. Holt is seeking dismissal of Jones’ claims and reimbursement for attorney’s fees in addition to the claimed theft.
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