NFL Ownership News: Tom Gores Acquires Significant Interest in Los Angeles Chargers, Spanos Family Maintains Control

Tuesday, October 15th, 2024

The acquisition of a 27% interest in the Los Angeles Chargers by Tom Gores received approval from NFL team owners during their fall meetings.

Gores, who also owns the Detroit Pistons, bought a 24% share from Dea Spanos Berberian, which includes her 9% interest in a family trust holding 36% of the team. Additionally, he obtained 1% each from Dean Spanos, Alexis Spanos Ruhl, and Michael Spanos for their estate planning.

Gores expressed admiration for the Spanos family, appreciating Dean's leadership in the NFL and noting his gratitude for the investment opportunity. He looks forward to collaborating with Dean, Michael, and Alexis in the shared goal of competing for championships.

Although Gores holds a substantial stake, he will not engage in the day-to-day operations of the Chargers or gain a path toward a controlling interest. The Spanos family maintains 69% ownership, with an additional 4% owned by legacy stakeholders from the San Diego era of the team.

This transaction follows the NFL owners' September 2022 decision to permit private equity funds to invest in teams. However, this particular investment is unrelated to Gores' Platinum Equity firm.

The sale brings an end to a three-year conflict between Spanos Berberian and her siblings, which involved lawsuits over fiduciary duty breaches and allegations of misogyny.

In response, the Spanos family expressed contentment with the resolution, noting that Faye and Alex Spanos always hoped the Chargers would remain a central part of their family's legacy, and this ensures the franchise will stay under the control of Dean Spanos, along with his siblings Alexis and Michael.

Related Links

• Los Angeles Chargers News & Updates
• Los Angeles Chargers Schedule & Scores
• NFL News