December 7, 2022

519 Magazine

Complete News World

They are asking for a forced sale of the chargers before the Los Angeles High Court

Dee Spanos Berberian has claimed financial loss and is legally demanding the sale of one-third of the group’s shareholders.

Los Angeles – Sister of the primary owner Los Angeles Chargers, Teen Spanos, Petitions California court to sell one-third of the stock in the team.

Dee Spanos Berberian Filed a petition before this Thursday Los Angeles County High Court, Argues that rising license debt will create one The annual loss is estimated at nearly $ 11 million For family trust.

According to the petition, the trust had $ 353 million in debt and expenses as of Sept. 30. Nearly half of that (164,778,931) is due to fund investment Chargers. Participation of the Foundation Chargers This is 83 percent of your investment.

“This belief focuses so much on having a minority stake in a professional football team that users have no choice but to trust only the team’s success or failure,” the lawsuit said. “Maintaining status is not an option.”

There is a letter in the ad Teen Spanos He said he would hire an investment bank that would allow any member of the family to sell their shares. Berberian It states in the petition that this process will take more time.

“Every day that passes increases the risks of increasing the quality of the beneficiaries and the heritage of the family Spanos Enjoy irreparable financial and reputation damage. ”

Sponos, Berberian, owned by Alexandra Spanos Rule and Michael Spanos, Each, 15 per cent of the ownership, 36 per cent is managed by family trust, and 4 per cent by non-relatives. Spanos And Berberian Appointed co-trustees after death Alex and the ghost spanos In 2018.

See also  Texas shooting kills at least three | Univision News Events

Alex Spanos bought the San Diego Chargers in 1984, And his son Dean Managed ownership in 1994.

Dean Spanos, Michael Spanos and Spanos Rule The court issued a statement stating that the team’s activities would not be affected by the action and that they would like to fight the action.

“Our parents, Alex Y is a ghost, They wanted Chargers Were part of Spanish family For future generations. For the three of us, Chargers They are one of the most important traditions of our family, which our parents had. Unfortunately, our sister Give It seems to have a different and misguided personal agenda, “the statement said.” Yes Give He no longer wants to belong to the family tradition, and according to the rights our contracts give us, the three of us are willing to receive a share of their rights. “

Rated by Forbes Chargers Its most recent license rankings are 6 2.6 billion. The trust’s stake could be up to $ 850 million Daniel Snyder It recently acquired the remaining 40.5 percent of its minority partners Washington football team For $ 875 million.

The value of ownership is expected to increase NFL Agreed to new contracts for media rights that could generate more than $ 10 billion annually from 2023 Chargers They went too Sophie Stadium Last season, revenue was expected to increase as fans were allowed into the stadium.