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Dean Spanos' sister petitions court to force sale of LA Chargers

Dean Spanos' sister petitions court to force sale of LA Chargers
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Dean Spanos' sister asks court to force sale of the Chargers -

LOS ANGELES (KUSI) – Dea Spanos Berberian, the sister of controlling the Los Angeles Chargers controlling owner, Dean Spanos, has filed a petition in Los Angeles County Superior Court asking a judge to order the sale of the Chargers in order to pay for the family trust’s debts.
The Los Angeles Times reports that Dea Spanos Berberian serves “as co-trustee of the family trust along with her brother,” and says the petition “alleges the trust’s debts and expenses exceed $353 million.”
The petition reads, “Dean refuses to consider a sale of the Trust’s Interest of the Chargers, insisting that the Co-Trustees continue to borrow more and more, and to force the charities and beneficiaries to wait for years and to ‘hope’ while Dean speculates further on a football team.” Continuing, “Dean has failed to present any plan to address the Trust’s bleak financial picture, because there is no other plan than the one urged by [Berberian]. Dean simply refuses to discuss it. … His plan is hope.”

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Dean Spanos' sister asks court to force sale of Chargers

Dean Spanos' sister asks court to force sale of Chargers
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Dean Spanos' sister asks L.A. court to force Chargers sale

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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.

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Dean Spanos' sister petitions court to force Chargers' sale

Dean Spanos' sister petitions court to force Chargers' sale
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Question of the Day
By JOE REEDY
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Associated Press
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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.

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Chargers owner Dean Spanos' sister petitions court to force sale of team over mounting debt

Chargers owner Dean Spanos's sister petitions court to force sale of team, saying that her brother's reckless spending has resulted in $353 million in mounting debt for the family trust
The daughter of late Chargers owner Alex Spanos has filed a lawsuit in a bid to force the family trust's sale of the Los Angeles-based NFL franchise
Dea Spanos Berberian says the reckless spending by her brother Dean, the team's controlling owner, has resulted in $353 million in debt for the family trust
The budget shortfall is so bad, Berberian claims, that the family trust might be forced to renege on $22 million that has already been pledged to charities

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Spanos siblings say they won't sell Chargers

Spanos siblings say they won't sell Chargers
By Zac Wassink
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Last updated 4/1/21
Earlier on Thursday, reports surfaced that Dea Spanos Berberian had requested that Los Angeles Chargers owner Dean Spanos and her other two siblings agree to sell the NFL franchise to offset massive amounts of debt linked with the family trust.
"Every day that passes increases the risks that the charitable beneficiaries and the Spanos family legacy will suffer irreparable financial and reputational damage," she wrote in a petition.
Dean Spanos, Alexis Spanos Ruhl and Michael Spanos responded via a statement shared on the Chargers' website:
"Our parents, Alex and Faye, wanted the Chargers to be part of the Spanos Family for generations to come. For the three of us the Chargers is one of our family's most important legacies, just as it was for our parents. Unfortunately, our sister Dea seems to have a different and misguided personal agenda. 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. In the meanwhile, the operations of the Chargers will be entirely unaffected by this matter, which relates only to the 36 percent share of the team that was owned by our parents. The three of us are entitled to three-fourths of that 36 percent share in any event, and under no circumstances will this situation impact control of the franchise. The three of us will remain firmly united as we seek to fulfill our parents' wishes to make every decision in the best interests of the Los Angeles Chargers."

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Hermana de Dean Spanos entabla demanda para obligar la venta de Los Ángeles Chargers – Telemundo Area de la Bahía 48

Hermana de Dean Spanos entabla demanda para obligar la venta de Los Ángeles Chargers – Telemundo Area de la Bahía 48
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