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Dean Spanos sister requests court force sale of Chargers
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Dean Spanos sister petitions court to force sale of LA Chargers
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In an attempt to force the sale of the Chargers, a sister of controlling owner Dean Spanos filed a petition in Los Angeles County Superior Court on Thursday arguing that mounting debt has imperiled the family’s finances and the only solution is to put the NFL franchise on the market.
The petition by Dea Spanos Berberian, who serves as co-trustee of the family trust along with her brother, alleges the trust’s debts and expenses exceed $353 million. In addition, according to the filing, the trust doesn’t have a plan to pay more than $22 million it has pledged to charities.
Dean Spanos sister asks court to force sale of Chargers
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Dean Spanos sister petitions court to force Chargers sale Follow Us
Question of the Day By JOE REEDY - Associated Press - Thursday, April 1, 2021
LOS ANGELES (AP) - The sister of Los Angeles Chargers controlling owner Dean Spanos is petitioning a California court to put one-third of the team’s ownership stake up for sale.
Dea Spanos Berberian filed a petition Thursday in Los Angeles County Superior Court contending that mounting debt from the franchise is creating an estimated yearly loss of at least $11 million for the family trust.
According to the petition, the trust had debts and expenses of $353 million as of Sept. 30. Nearly half of that ($164,778,931) is due to the trust’s investment in the Chargers. The trust’s stake in the Chargers makes up 83% of its holdings.