The Los Angeles Chargers could be up for sale soon if the sister of owner Dean Spanos gets her way.
In a petition filed in Los Angeles County Court, Dea Spanos Berberian alleged that the Spanos family trust, which owns 36 percent of the Chargers, is in dire financial straits. Berberian claims that the trust is in debt and will not be able to fulfill pledged charitable obligations, and that the only way to pay off that debt would be to sell the franchise.
From the petition: “Dean [Spanos] 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 [his sister]. Dean simply refuses to discuss it. … His plan is hope.”
— Nathan Fenno (@nathanfenno) April 1, 2021
Berberian, who owns 15% of the franchise, provided evidence that Spanos agreed to retain an investment bank to sell the team prior to the 2024 season.
Not be lost in this news is the tidbit that Dean Spanos sent a letter to his three siblings in November 2019 agreeing to retain an investment bank to find a buyer for the team after the 2024 season. pic.twitter.com/NibAiNKnJr
— Nathan Fenno (@nathanfenno) April 1, 2021
In their own statement, the other three Spanos siblings dismissed Berberian’s claims, adding that they are prepared to purchase her stake in the franchise if she no longer wishes to be involved.
Whether realistic or not, there are a lot of Chargers fans who would not be sorry to see Spanos go. The franchise’s move from San Diego to Los Angeles has not done much to increase its visibility, and fans have not shied away from letting Spanos know how they feel.
