Pistons Owner Tom Gores Poised to Purchase 27% Stake in Los Angeles Chargers

Friday, September 27th, 2024

Tom Gores, the owner of the Detroit Pistons, plans to acquire a 27% interest in the Chargers.

This transaction, pending NFL approval, involves Gores purchasing 24% of the team from Dea Spanos Berberian and an additional 1% from her siblings.

The agreement settles a number of lawsuits initiated by Berberian, who has consented to dismiss them as part of the arrangement.

Dean Spanos will continue to lead the Chargers, and the Spanos family will collectively retain a 69% ownership share.

Gores, who also owns the Pistons, is choosing to invest in the Chargers on a personal basis rather than through his private equity company, Platinum Equity.

This deal represents the first known transaction since the NFL allowed private equity firms to hold passive stakes in teams.

The ownership dispute surrounding the Chargers originated from a 2021 lawsuit filed by Berberian, who wanted to sell the team. Her allegations of misconduct against Dean Spanos were challenged by her siblings.

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