Disputed loan at center of Commanders probe. Dean Spanos took over as managing owner of the Chargers in 1994, 10 years after his father bought the franchise. Dean Spanos: Los Angeles Chargers owner is sued by his sister in a Dean Alexander Spanos (born May 26, 1950) is the chairman and owner of the National Football League (NFL)'s San Diego / Los Angeles Chargers franchise. The petition by Dea Spanos Berberian, who currently owns 15% of the Chargers, is seeking instruction by a California state court for how to manage the 36% share owned by the family's trust. Dimitri and Lex Economou filed their suit this week in San Joaquin County. Vous pouvez modifier vos choix tout moment en cliquant sur le lien Tableau de bord sur la vie prive prsent sur nos sites et dans nos applications. Dean Spanos and Berberian are the sole co-trustees. Alexander Gus Spanos (September 28, 1923 - October 9, 2018) was an American billionaire real estate developer, founder of the A. G. Spanos Companies, and the majority owner of the San Diego / Los Angeles Chargers of the National Football League (NFL). Born and raised in Stockton, California, Alex was from a middle-class Greek family. The petition asks the court to order Berberian and Spanos to take steps to sell the trusts share of the Chargers and invoke a provision of trust law that would require the teams other shareholders to do the same. The NFL declined to comment on the situation. John oversees the teams football operations and A.G. heads the business side. Alex Spanos | American Football Wiki | Fandom Berberian's sons, Dimitri and Lex Economou, also previously filed a lawsuit against Dean Spanos, alleging that he secretly diverted money from the trust. 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Dean Spanos Sued by Sister Amid Legal Battle for Control of Chargers Sister of Dean Spanos Accuses Chargers Owner of Fiduciary Mismanagement The petition by Dea Spanos Berberian, who serves as co-trustee of the family trust along with her brother, alleges the trusts debts and expenses exceed $353 million. Spanos-Berberian Winery, LLC Company Profile | Yountville, CA "The statements made in today's court filing about my brother Dean Spanos are outrageously untrue," the statement read. He is the son of Alex Spanos, who purchased majority interest in the team in 1984. Berberian, therefore, is looking to control a total of 51 percent of the team, making her majority owner. With her attempt to force the trust to sell the team heading to arbitration, she perhaps can get to the same place if she seizes control of the trust and thus can in her capacity as the sole trustee bundle the 36 percent plus the 15-percent chunk she individually owns and sell controlling interest to someone like Josh Harris, who was ready to bid $5 billion for 100 percent of the Broncos equity. Spanos, Berberian and their two other siblings team vice chairman Michael Spanos and Alexis Spanos Ruhl each individually own 15% of the Chargers. And he has been fighting, along with my brother Michael and me, to fulfill the wishes of our mother, Faye, relating to our family and our businesses. The family trust that holds the majority ownership of the Los Angeles Chargers is in such a dire financial situation that Dea Spanos Berberian, the sister of controlling owner Dean Spanos, wants . Just ask Michael Vick what he thinks. Throughout this entire ordeal that was instigated without justification by my sister Dea Berberian, my brother Dean has been unfailingly respectful of me and of my wishes. Spanos and Berberian were left as co-trustees of the trust following the deaths of Alex and Faye Spanos in 2018. Dean Spanos Could Be in More Legal Trouble - KOGO News Berberian claims that Dean's decision to relocate the Chargers from San Diego back to Los Angeles in 2017 has put the trust more than $358 million in debt. In 1961 the franchise moved to San Diego. Los Angeles Chargers controlling owner Dean Spanos has already earned one victory this summer by getting his legal dispute with his sister, Dea Spanos Berberian, moved out of Los Angeles. More:Faye Spanos: A wonderful person, a wonderful life, More:Whos who of civic, sports leaders bid farewell to Alex Spanos, Photos: Remembering the life, legacy of Alex Spanos. Ron is husband of Dea Berberian (daughter of Alexander Spanos - real estate developer, owns the San Diego Chargers) Sorry for my poor english translation. To characterize Dean as somehow being less than fully respectful of the women in our family is just not right.". But it is the life of the Chargers in January next will determine the success or otherwise of their season. Nearly four decades ago, the family patriarch, Alex Spanos, purchased a majority interest in the San Diego Chargers for $40 million. Tim Tebow can not do everything alone. In addition, according. He died on October 9, 2018. Dea Spanos Berberian filed the suit Thursday in San Joaquin County Superior Court, as ESPN reported, seeking sole control of the Spanos Family Trust that constitutes more than one-third of. If Dea no longer wishes to be part of this family legacy, the three of us stand ready to purchase her share of the franchise, as our agreements give us the right to do, they stated. Berberian is reportedly seeking sole control of a family trust that accounts for more than one third of Chargers ownership. A page was dog-eared for quick reference. Dea Spanos Berberian, in Stockton CA - Company Profile According to the petition, the trust had debts and expenses of $353 million as of Sept. 30. 1 draft pick, Spanos family calls Dea Spanos Berberians allegations false and provocative, Report: Derek Carr wants $35 million per year, The Raiders are the betting favorites to land Aaron Rodgers, Mike McCarthy: Kellen Moore wants to light the scoreboard up, I want to run the damn ball, Arrest warrant issued for Jalen Carter for reckless driving, racing, ESPN reiterates report that Lamar Jackson wants a fully-guaranteed deal, Aaron Rodgers says hell make a decision soon enough, Competition Committee begins to explore the quarterback push play, Players say Chiefs discourage them from reporting injuries, have NFLs worst training staff, Bryce Young is just over 5-10 and 204 pounds. Chargers owner Dean Spanos accused of fiduciary mismanagement - Los Aztecs to honor 8 on Senior Night against Wyoming, but are all of them leaving? The NFL intervened and asked to arbitrate the matter since it was a dispute among NFL owners, a source familiar with the case told CNN. Discovery Company. The trust has control over one-third of the ownership stake. Jun 10, 2022 Dea Spanos Berberian, the sister of Chargers owner Dean Spanos, is suing her brothers for "misogynistic" treatment, "self-dealing" and "breaches of fiduciary duty," ESPN's Adam. For some, they have even the most talented team in the NFL. Alex Spanos Biography - Facts, Childhood, Family Life & Achievements Dean Spanos - Wikipedia The franchise is currently a member of the Western Division of the American Football Conference (AFC) in the National Football League (NFL). SPORTS ILLUSTRATED is a registered trademark of ABG-SI LLC. Jesus, who are these people?! Apr 1, 2021. All rights reserved. Alexander Spanos Net Worth 2023 Her three siblings are not thrilled with the situation. She also accuses her brothers of fiduciary mismanagement that has left the Spanos family trust with more than $358 million of debt as of the end of 2021, the lawsuit shows. Suddenly, San Diegans have a Spanos to root for. -> Site for Ron Berberian, Dea Berberian. Maybe hed pay $2.55 billion for 51 percent of the Chargers. Berberian points to one instance where she said financials were manipulated to borrow more than $60 million for the wasteful purchase of an airplane for Deans and Michaels use that has no legitimate business justification, according to the lawsuit. In March 2021, she filed a petition to Los Angeles Superior Court asking the franchise be sold due to mounting trust debts. A lawyer familiar with the matter told ESPN that Berberian's motive for filing the suit is to embarrass Spanos publicly. Already looking forward to the 2023 NFL Draft? Dean Spanos, for what it's worth, has long insisted he will never sell the Chargers. When the Chargers moved to Los Angeles in 2017 after 56 seasons in San Diego, they faced the daunting task of paying off a $650 million relocation fee to the NFL and building a fan base in a market crowded with college and professional sports. Most of the debt is money the Chargers loaned the family trust, a common practice because the team can get a lower interest rate. Family feud over Chargers' ownership lands in court - Yahoo Lorsque vous utilisez nos sites et applications, nous utilisons des, authentifier les utilisateurs, appliquer des mesures de scurit, empcher les spams et les abus; et. Dea Spanos Berberian . Jaguars won't spend big, but here are five players they could target in free agency, The most memorable pre-NFL draft workouts ever: Coaches, scouts, execs make their picks, 2023 NFL franchise tag tracker: Raiders tag Josh Jacobs, the NFL's rushing leader. The claims include a charge that Spanos borrowed in excess of $60 million for the wasteful purchase of an airplane for Deans and Michaels use that has no legitimate business justification.. 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 . The lawyer went on to say that Berberian's three siblings, Dean, Michael and Alexis, have stood firmly in opposing her in the past and that "today's lawsuit will receive the same reaction.". He had a very difficult first season. 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 familys finances and the only solution is to put the NFL franchise on the market. STOCKTON - Chargers controlling owner Dean Spanos faces several allegations in a new lawsuit. The four siblings are equal beneficiaries of the family trust, according to court documents. The debt includes $164 million associated with the Trusts Interest in the Chargers and at least $75 million in estate tax. Dean Spanos sued by sister, accused of 'misogynistic' behavior as legal The San Diego Chargers are a professional club Footballs based in San Diego, California. Alexander Gus Spanos (September 28, 1923 - October 9, 2018) is an American real estate developer and self-made billionaire of Greek origin who is the majority owner of the NFL's Los Angeles Chargers, who also founded the A.G. Spanos Companies. Not a member? Early life and education [ edit] 8 Attorneys for Dea Spanos Berberian, Co- Trustee of the Alex and Faye Spanos Family 9 Trust, dated January 27, 1998, as amended and restated on June 28, 2007 10 11 SUPERIOR COURT OF THE STATE OF CALIFORNIA 12 COUNTY OF LOS ANGELES 13 14 In re the Case No. None of the Children ever had to work for a dime of their wealth. The families of Dean Spanos, Alexis Spanos Ruhl and Michael Spanos released a statement later Friday reaffirming their unity. Dean Spanos' sister petitions court to force Chargers' sale Beyond the 36% owned by the trust, Spanos, Berberian and their siblings, Michael and Alexis , each own 15% of the Chargers, with the remaining 4% belonging to non-family members. I agree to receive the "Pick Six Newsletter" and marketing communications, updates, special offers (including partner offers), and other information from CBS Sports and the Paramount family of companies.

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