Photo by Chris Stone Dean Spanos, co-owner of the Los Angeles Chargers , is mired in a family dispute that has prompted another court battle. Dimitri and Lex Economou, Spanos nephews, sued him this week in San Joaquin County, according to the Los Angeles Times. Chargers One example, taken from the lawsuit: Dean continues to use Trust assets as collateral, draw on the Trusts lines of, credit, and refuses to pay dividends for his own personal benefit and in breach of his fiduciary duties. It's not that we're not going to look at the defensive side of the ball. All rights reserved. My family, my mother, she was right beside me, so she was super happy for me, as well. Levis has inside track to be future of Titans, Eagles add three Georgia studs to elite roster, Belichick keeping Jones, Zappe on edge after draft, Simms: Hooker has more talent than Goff, NFL draft takeaways: QBs selected on Day 3, California AG Rob Bonta gets involved in Spanos family dispute over Chargers, In the end, the Packers fleeced the Jets for Aaron Rodgers, Aaron Rodgers blamed cell service at his house for not returning Brian Gutekunsts calls, Trade charts show Jets sending Packers equivalent of a high second-round pick in 2023, Odds greatly improve for Will Levis to be the first overall pick, Deion Sanders is ashamed of 31 NFL teams for not drafting any HBCU players, Brian Gutekunst: It would have been nice to have had those conversations with Aaron Rodgers, Jim Irsay asks fans whether Colts should pair Will Levis with Anthony Richardson, will not be selling any aspect of the team. Then, eventually, clicking with the quarterback and gaining that trust from him. ", "Obviously, there's still process from now until the draft and after the draft so we'll see where it goes, but we feel really good about our football team. You're always thinking about your quarterback. Berberian has sought to have the 36 percent stake of the team controlled by the Spanos trust sold as she claims the team is unable to fulfill its financial commitments to charitable causes due to the debt of the franchise. His four adult children Alexandra Spanos Ruhl, Michael Spanos, Dean Spanos and Berberian each owns 15% of the Chargers. According to Forbes.com, the teams worth in the spring 2021 was $2.6 billion. 2023 www.recordnet.com. Stephen Spillman/Copyright 2022 The Associated Press. In a new court filing seeking to have the matter The AG can seek to have the trustees removed from office so that trustees can be in place who can be relied on to take appropriate action.. For example, despite the fact that TSC conducted little to no business in Las Vegas for decades, Dean insisted on keeping a TSC office there so that he could write off private flights to enjoy his second home and get his haircut, since Las Vegas is where Deans barber is based, the lawsuit read. 6-keys: media/spln/nfl/reg/free/stories, By pressing sign up, I confirm that I have read and agree to the. The same thing is going on in MN with a charitable trust that owns one of MNs largest private banks the state has the right to oversee trustees of charitable trusts for fiduciary breaches. On his reaction to receiving the call and being selected by the Chargers: "I was super excited. His three siblings also hold significant ownership stakes. This site uses Akismet to reduce spam. That means being on the field as a linebacker, being on the field as a gunner or whatever it may be for special teams and a linebacker, that's what I plan to do.". I think the same for Tuli [Tuipulotu]. If you have that 1, you go on the field and look at a guy with number 1 and go, 'OK, he must be doing something.' Though Berberians petition is brought on behalf of the trust, it seeks to compel a full sale of the team. In addition, according to the filing, the trust doesnt have a plan to pay more than $22 million it has pledged to charities. Throughout this entire ordeal that was instigated without justification by my sister Dea Berberian, my brother Dean has been unfailingly respectful of me and my wishes. All rights reserved. Alex Spanos, Chargers Owner Worth $2.4 Billion, Dies - Forbes 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. It was, obviously, a special experience for me and also my family, as well. ", "Great quarterback. TCU quarterback Max Duggan (15) stands on the field before an NCAA college football game against Oklahoma State in Fort Worth, Texas, Saturday, Oct. 15, 2022. Offers may be subject to change without notice. Similar to last season, the All rights reserved. Dean Spanos, the controlling owner of the Chargers, was accused of repeated breaches of fiduciary duty and self-dealing by his sister in a lawsuit, which also claimed the family trust is on track to be insolvent in the next three years. This is normal state AGs often get involved with large charitable trusts. The Spanos family owns 96% of the Chargers. Dea Spanos Berberian filed a petition in L.A. Superior Court to pursue a sale of the team. The Spanos children have held various leadership roles in the franchise for many years. Thats another $500 million minimum, along with a new practice facility for a few hundred million. The NFL has declined comment on the matter. I know that they'll take full advantage of it. Dean Spanos, for what it's worth, has long insisted he will never sell the Chargers. ", "Before I start, I want to say thank you to the Spanos Family, [General Manager] Tom Telesco and [Head] Coach [Brandon] Staley for having me here and keeping me home. "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. A named source close to the team told Popper a different tune for the involvement.
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