The Denver Broncos will hit the market after the Super Bowl, and the jockeying among the uber-rich is already underway.
Investment bankers interviewed by Front Office Sports are now looking at the next team to potentially hit the market. The consensus is the L.A. team not playing for a championship on Sunday: the Chargers.
The main reason why there is renewed scrutiny of controlling owner Dean Spanos’ grasp of the franchise is the family legal battles being played out in multiple California courts, along with other cases.
- Dea Spanos Berberian, Dean’s sister, filed a petition in April in an attempt to force a sale. Berberian claimed in a filing that the family trust has “debts in excess of $435 million.” Dean Spanos’ attorneys have disputed those claims.
- Berberian’s sons, Dimitri and Lex Economou, filed their own petition on Jan. 22 over alleged misuse of funds in the trust.
- Dea and Dean are actually on the same side in one legal battle: a petition in U.S. Tax Court on Jan. 10 to challenge $5.8 million in back taxes and penalties.
- Former San Diego city attorney Michael Aguirre filed a breach-of-contract lawsuit last month against the NFL and all 32 clubs over the Chargers’ relocation.
Numbers In Spanos’ Favor
Even with unfavorable rulings, it’s still unlikely Dean Spanos would be forced to put the team on the market as long as his two other siblings remain on his side.
Between the trust and their individual ownership of the Chargers, the three control 72% of the team and are willing to buy out Berberian.