Berberian claims that Dean's decision to relocate the Chargers from San Diego back to Los Angeles in 2017 has put the trust more than $358 million in debt. Dea Spanos Berberian, in Stockton CA - Company Profile No doubt that Tebow had better be ready for next season opposing defensive coordinators will certainly have adjusted their defensive tactics to counter it. In response to the filing, Dean Spanos and two of his siblings released a statement Thursday pledging to keep the team in the family. Jun 13, 2022. Dea Spanos Berberian filed a petition Thursday in Los Angeles County Superior Court contending that mounting debt from the franchise is creating an estimated yearly loss of at least $11 million for the family trust. The filing also calls for the removal of her brother as a co-trustee and seeks unspecified damages. Alex Spanos was an American billionaire who primarily worked as a real-estate developer and founded 'A.G. Spanos Companies.'. These changes may not happen, and may not be applicable to the Spanos family trust. Alexander Gus Spanos (September 28, 1923 - October 9, 2018) was an American billionaire real estate developer, founder of the A. G. Spanos Companies, and the majority owner of the San Diego / Los Angeles Chargers of the National Football League (NFL). 236. Leadership - A. G. Spanos Companies The Carolina Panthers on Friday announced they had hired Thomas Brown, the Rams assistant head coach last season, as their offensive coordinator. 2023 Cable News Network. Chargers not for sale, Dean Spanos and siblings say But the 156-page filing raises questions about the future of the franchise owned by the Spanos family since 1984 and reveals a family dispute that until now had played out in private. The legal conflict involving the Spanos siblings came to light in April 2021, when Berberian petitioned the Los Angeles County Superior Court to put the trust up for sale because of growing financial concerns. Dean Spanos has controlled the teams day-to-day management since 1994. Sorry for my poor english translation. Multiple outlets reported the lawsuit claims . In the meantime if Tebow had not missed his two passes late in the game, the Denver team would probably have won. Maybe hed pay $2.55 billion for 51 percent of the Chargers. Los Angeles Chargers owner Dean Spanos has been accused of "misogynistic" behavior, "self-dealing" and repeated "breaches of fiduciary duty" by his sister in a lawsuit that escalates the siblings' ongoing legal battle over control of the team. The sister of Los Angeles Chargers controlling owner Dean Spanos is petitioning a California court to put one-third of the team's ownership stake up for sale. Fenno writes that Berberian argues " that mounting debt has imperiled the family's finances and the only solution is to put the NFL franchise on the market ." Alex Spanos bought the San Diego Chargers in 1984 and Dean Spanos took over . Berberian seeks sole control of the family trust that owns the largest share of the franchise, according to a petition filed in San Joaquin County Superior Court. Additionally, Berberian claims the Chargers move from San Diego to Los Angeles was financially ruinous and the family needs to sell to recoup the trusts debt. Factors likely, the division in which you move you more or less likely to win the playoffs. His sister has petitioned in an existing probate case to remove him as co-trustee of the team. I agree to receive the "Pick Six Newsletter" and marketing communications, updates, special offers (including partner offers), and other information from CBS Sports and the Paramount family of companies. New lawsuit regarding control over Chargers alleges misogny among Wat Betekent BERBERIAN in het Nederlands - Nederlands Vertaling Lawsuit That Could Force Spanos Family to Sell Chargers - NBC 7 San Diego "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. The lawsuit also lists multiple allegations of "breaches of fiduciary duty" by Dean Spanos, who is accused of diverting $105 million from the trust to various debts. Dean Spanos' sister asks L.A. court to force Chargers sale - The San Conceivably if a judge agrees with Spanos Berberian, the possibility could arise, however fraught with large obstacles, of the franchise being sold. appreciated. At the end of the 1994 season, the Chargers faced the San Francisco 49ers in Super Bowl XXIX and lost 49-26. Focus Wednesday on the AFC West division by far the lowest in the American Conference. To characterize Dean as somehow being less than fully respectful of the women in our family is just not right, Ruhl continued. Aztecs to honor 8 on Senior Night against Wyoming, but are all of them leaving? 24/7 coverage of breaking news and live events. Chargers Owner Dean Spanos in Legal Fight with Nephews Over Family Dea Spanos Berberian filed a petition Thursday in Los Angeles County Superior Court contending that mounting debt from the franchise is creating an estimated yearly loss of at least $11. Our View: Family was always first for Alex Spanos They said that, if necessary, they were prepared to buy their sisters stake in the franchise. He was 95.. Berberian contends that the Spanos family trust and subtrusts are all but insolvent, that Spanos' decision to move the Chargers to Los Angeles has proved financially ruinous and that the family has no option but to sell the team to satisfy the trust's debt obligations, which she says are currently in excess of $358 million. Together, Ron and Dea, are dedicated to enhancing the experience of visiting Bell Wines and offering the best quality of their award-winning wines. Her petition includes claims against Steven Cohen, the executive vice president of The Spanos Corporation. STOCKTON - Chargers controlling owner Dean Spanos faces several allegations in a new lawsuit. Alex Spanos bought the San Diego Chargers in 1984, and Dean Spanos took over managing the franchise in 1994. Published In 1948, Spanos married Faye Papafaklis. The families of Dean Spanos, Alexis Spanos Ruhl and Michael Spanos released a statement later Friday reaffirming their unity. His four adult children Alexandra Spanos Ruhl, Michael Spanos, Dean Spanos and Berberian each owns 15% of the Chargers. And that ultimately may be why this lawsuit was filed. Berberian also accuses her brothers of conspiring with Steven Cohen, the executive vice president and COO of The Spanos Corporation, to undermine Berberian by "deliberately" damaging her relationship with the pastor of her Greek Orthodox church, Father Alex Karloutsos. The filing. "The statements made in today's court filing about my brother Dean Spanos are outrageously untrue," the statement read. With the NFL combine starting Tuesday in Indianapolis, here are five positions the Los Angeles Chargers might focus on during this offseason. The three of us and our children, representing more than 75 percent of the family and its ownership of its businesses, stand united in support of our parents' and grandparents' wishes, including as to the continued ownership and operation of the Chargers. The suit also asks the court to suspend and remove Spanos as a co-trustee and seeks unspecified financial damages awarded to Berberian. -> Site for Ron Berberian, Dea Berberian, Yet, once again, everything is there. 2023 ABG-SI LLC. Alex Spanos Biography - Facts, Childhood, Family Life & Achievements Lula 2019 Pinot Noir (Anderson Valley) - Wine Enthusiast Los Angeles Chargers owner Dean Spanos is being sued by his sister Dea Spanos Berberian. Chargers co-owner wants team to be sold to relieve family debt - USA Today However, theres still reason to believe this could become a sticky situation for the Spanoses. The lawyer went on to say that Berberian's three siblings, Dean, Michael and Alexis, have stood firmly in opposing her in the past and that "today's lawsuit will receive the same reaction.". Dean Spanos' sister petitions court to force Chargers' sale - AP NEWS U-T draft analyst Eddie Brown has the Chicago Bears considering a trade, Privacy PolicyTerms of ServiceSign Up For Our NewslettersSite Map, Copyright 2023, The San Diego Union-Tribune |. He still almost lost two balls. The current political climate may be creating a potential for tax and legal exposure to the Spanos family trustees, absent a sale, that its caretakers would do well to consider. Dean Spanos took over as managing owner of the Chargers in 1994, 10 years after his father bought the franchise. NFL: Chargers ownership fight get ugly between Spanos siblings - Yahoo! CBS Sports is a registered trademark of CBS Broadcasting Inc. Commissioner.com is a registered trademark of CBS Interactive Inc. site: media | arena: nfl | pageType: stories | "Many people say that, but it made us more harm than good to hear," coach Norv Turner tempers. The families of Dean Spanos, Alexis Spanos Ruhl and Michael Spanos released a statement later Friday reaffirming their unity. Lorsque vous utilisez nos sites et applications, nous utilisons des, authentifier les utilisateurs, appliquer des mesures de scurit, empcher les spams et les abus; et. Chargers owner Dean Spanos sued by sister for - CBSSports.com Siblings in attendance included brother and Chargers executive vice president Michael Spanos and wife Helen; sister Dea Spanos Berberian, a vice president of A.G. Spanos Companies, and her husband . In an attempt to force the sale of the Chargers, a sister of controlling owner Dean Spanos filed a petition in Los Angeles County Superior Court on Thursday arguing that mounting debt has imperiled the familys finances and the only solution is to put the NFL franchise on the market. When previous owners Alex and Faye Spanos died in 2018, they left each of their four kids 15% of the team, and another 36% to the family trust with Dean Spanos and Berberian as co-trustees. The lawsuit also . Dean Spanos Could Be in More Legal Trouble - KOGO News The petition by Dea Spanos Berberian, who serves as co-trustee of the family trust along with her brother, alleges the trusts debts and expenses exceed $353 million. Faye Papafaklis Spanos (1926-2018) - Find a Grave Memorial Tim Tebow can not do everything alone. 998. Regarding the breaches of fiduciary duty, Berberians petition contends that Spanos repeatedly manipulated the trusts financials for his personal gain. Chargers owner Dean Spanos sued by sister Dea Spanos Berberian - Deadspin Dea Spanos Berberian, the sister of Chargers owner Dean Spanos, is suing her brothers for misogynistic treatment, self-dealing and breaches of fiduciary duty, ESPNs Adam Schefter and Kimberley Martin reported. Dean Spanos' sister attempting to force sale of Chargers During the 34 years following the merger, the Chargers went ten times in the playoffs four times and reached the final of the AFC. "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. Suit Seeks Sale of Los Angeles Chargers - NBC 7 San Diego Dean Spanos' sister petitions court to force Chargers' sale The Spanoses reside in Stockton, California.Spanos also owns property in Las Vegas, Nevada. Berberian is reportedly seeking sole control of a family trust that accounts for more than one third of Chargers ownership. 6-keys: media/spln/nfl/reg/free/stories, By pressing sign up, I confirm that I have read and agree to the. SPORTS ILLUSTRATED is a registered trademark of ABG-SI LLC. None of the Children ever had to work for a dime of their wealth. All Rights Reserved. Los Angeles Chargers owner and chairman Dean Spanos is being sued by his sister and team co-owner Dea Spanos Berberian, whos accusing him of misogynistic behavior and repeated breaches of fiduciary duty in his role as controlling owner of the NFL franchise. Spanos and Berberian were left as co-trustees of the trust following the deaths of Alex and Faye Spanos in 2018. The couple raised four children. Alex G. Spanos Founder, 1923 - 2018 Neither Berberian nor Streisand responded to ESPN's requests for comment. The NFL recently brokered a gargantuan media rights deal worth more than $100 billion, raising the potential sales price of all 32 franchises. Here's everything we know, QB Young 5-10 1/8, 204 pounds at NFL combine, Sources: Patriots tell QB Hoyer he's being cut, Horns' Robinson: Versatility worthy of early pick, Jones: Not fixated on Cowboys' drought, just '23, Sources: Raiders plan franchise tag for Jacobs, WR Addison to Steelers' Pickett: 'Come get me', Wolverines' Turner wows with 4.26 40 at combine, Top QB prospect Levis eager to unleash 'cannon', Everything you need to know about Geno Smith's contract negotiations. Dean Spanos: Los Angeles Chargers owner is sued by his sister in a I see another great franchise going down in flames due to greed of the already wealthy. Chargers ownership dispute might push NFL to get - Los Angeles Times More:Faye Spanos: A wonderful person, a wonderful life, More:Whos who of civic, sports leaders bid farewell to Alex Spanos, Photos: Remembering the life, legacy of Alex Spanos. Before the Chargers moved to L.A. the relocation led one columnist to brand Dean Spanos as the most hated man in San Diego he kept a copy of his fathers autobiography in his office. Rather than seeking to monetize illiquid assets in order to pay debts and liabilities, and make distributions to beneficiaries, the Co-Trustees have principally been borrowing, including borrowing money from one bank to pay another, the petition said. Dean and Michael Spanos along with their sister Ruhl released a joint statement Friday, denouncing the actions of Berberian. The three of us and our children, representing more than 75% of the family and its ownership of its businesses, stand united in support of our parents and grandparents wishes, including as to the continued ownership and operation of the Chargers., In a separate statement, Ruhl said her brother Dean has been unfailingly respectful of me and of my wishes.. If not, could you forward this site to this person. Berberian is represented by Adam Streisand, who represented Jeanie Buss in her fight to gain control of the Lakers from her brothers, and Steve Ballmer in the proceeding that forced Donald Sterling to sell the Clippers. Spanos also allegedly manipulated the trust to borrow over $60 million "for the wasteful purchase of an airplane for Dean's and Michael's use that has no legitimate business justification.". Meanwhile, the trust is so heavily concentrated in owning a minority stake in a professional football team that beneficiaries have no choice but to depend almost solely on the rise or fall of the Team.. San Diego did not actually justified the compliments on the ground. Already looking forward to the 2023 NFL Draft? And he has been fighting, along with my brother Michael and me, to fulfill the wishes of our mother, Faye, relating to our family and our businesses. 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. Last year, Berberian filed a lawsuit attempting to force the sale of the family trust, including its stake in the Chargers franchise. The player of the match for San Diego as Ryan Matthews (26 races, 120 yards, 3 trials). 2. They added that in no circumstances will this situation impact control of the franchise.. Spanos, Berberian and their siblings Michael Spanos and Alexandra Spanos Ruhl each own 15% of the Chargers franchise, with 36% managed by the family trust and the remaining 4% owned by non-family members. Menu & Reservations Make Reservations . Dea Spanos Berberian, is listed as an officer of another company. Alexis Spanos Ruhl also released an additional statement defending Dean. In June 2002, Dea's husband Ron, from a wealthy Stockton family, announced he and Alex Spanos were buying the Bell Wine Cellars, an ultra-premium Napa Valley winery run by Anthony Bell that has since made . Chargers Owner Wins Legal Battle As NFL Stands By He had a very difficult first season. Regarding the "breaches of fiduciary duty," Berberian's petition contends that. It is not ca. (In San Diego arose the old football chant, spelled with a twist: Dea-Fence Dea-Fence!). The defense, she will benefit from the return of the machine Sacker, Shawne Merriman, who both missed last season. Discovery Company. The family trust that holds the majority ownership of the Los Angeles Chargers is in such a dire financial situation that Dea Spanos Berberian, the sister of controlling owner Dean Spanos, wants . In addition, according. Her three siblings are not thrilled with the situation. The petition by Dea Spanos Berberian, who currently owns 15% of the Chargers, is seeking instruction by a California state court for how to manage the 36% share owned by the family's trust. The three of us and our children, representing more than 75% of the family and its ownership of its business, stand united in support of our parents and grandparents wishes, including as to the continued ownership and operation of the Chargers.. 2004-2023 CBS Interactive. Los Angeles Chargers owner Dean Spanos has been accused of "misogynistic" behavior, "self-dealing" and repeated "breaches of fiduciary duty" by his sister in a lawsuit that escalates the siblings' ongoing legal battle over control of the team. San Diego is now one of the better off. Three join Pacific Board of Regents | University of the Pacific The NFL has declined comment on the matter. I love how the rich have a dead ear to how ridiculous and entitled they sound, and are! Adam Schefter on Twitter: "Dea Spanos Berberian claims in her lawsuit This year, Berberian has filed a lawsuit seeking control over the trust . You may occasionally receive promotional content from the Los Angeles Times. Thursday in a Los Angeles court, Dea's lawyer made a bid to force . Who would have thought Klein the old owner would be so sorely missed. ESPN also reported that a lawyer familiar with the matter believes Berberian is trying to embarrass her brothers and that all three siblings, including Michael and Alexis Spanos, stand together in opposing her. And he has been fighting, along with my brother Michael and me, to fulfill the wishes of our mother, Faye, relating to our family and our businesses. Disputed loan at center of Commanders probe. That included mediation with a retired L.A. County Superior Court judge that didnt work. And if Dea intends to sell her share of the team, they have the right to buy it under their right of refusal and they will do so. The venture acquired interest in the brand name and assets of Bell Wine Cellars, and a new partnership was formed with . He previously spent 20 years as a sports columnist for the Orange County Register and, before that, the Miami Herald. Faye and Alex Spanos married in 1948 and would have marked their 70th wedding anniversary on Aug. 21. The Chargers have emerged 33-28. "It is unfortunate that our sister Dea, who clearly has no interest in continuing to participate in the family's businesses, has resorted to leveling false and provocative charges in an attempt to impose her will on the rest of the family," the statement read. Your effort and contribution in providing this feedback is much Spanos, Berberian and their siblings Michael Spanos and Alexandra Spanos Ruhl each own 15% of the Chargers franchise, with 36% managed by the family trust and the remaining 4% owned by non-family . 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Chargers fans of the world, rejoice Dean Spanos, the widely hated part-owner of the L.A. Chargers, is being sued by his sister, Dea Spanos Berberian, for repeated misogynistic behavior. . As it relates to capital gains tax on inherited assets, another potential change would be significantly costly. They are the sons of one of Spanos' sisters, Dea Spanos Berberian. Los Angeles Chargers controlling owner Dean Spanos has already earned one victory this summer by getting his legal dispute with his sister, Dea Spanos Berberian, moved out of Los Angeles. Streisand previously represented Steve Ballmer in his purchase of the Clippers and Jeanie Buss in the legal fight that cemented her as controlling owner of the Lakers. Dimitri and Lex Economou filed their suit this week in San Joaquin County. Spanos and Berberian were left as co-trustees of the trust after the deaths of Alex and Faye Spanos in 2018. Dea Spanos Berberian s Petition for 1. Breach of Fiduciary Duty and All Rights Reserved. section: | slug: chargers-owner-dean-spanos-sued-by-sister-for-financially-ruinous-business-family-rebuts-false-charges | sport: football | route: article_single.us | To characterize Dean as somehow being less than fully respectful of the women in our family is just not right.". All rights reserved. While Forbes valued the Chargers at $2.6 billion last year, Berberians petition described the team as a rare trophy asset and noted that the price a buyer is willing to pay is often not dictated by any economic metric. The NFL recently finalized massive new media rights deals that could be worth more than $10 billion per year, something the filing asserts will certainly attract potential buyers., The petition noted reports that Amazon.com founder Jeff Bezos, worth an estimated $180 billion, is interested in becoming an NFL owner and said the Chargers could be a perfect opportunity.. She has been the co-owner of the Los Angeles . Moreover they are worth much better than their record 2008-2009. Berberian accuses brothers Dean and Michael of repeatedly acting "out of their deeply-held misogynistic attitudes and sense of entitlement as the men in the family and to rationalize their pitiable behavior which she believes is intended to teach her that a woman has no rights, no matter what any trust instrument might say." Beyond the 36% owned by the trust, Spanos, Berberian and their siblings, Michael and Alexis , each own 15% of the Chargers, with the remaining 4% belonging to non-family members. Every story about NFL owners is like reading a comic book. According to the petition, the trust had debts and expenses of $353 million as of Sept. 30. The NFL declined to comment on the situation. A Warner Bros. Her three siblings are not thrilled with the situation."It is unfortunate that our sister Dea, who clearly has no interest in continuing to participate in the family's business, has resorted to false and provocative charges in an [more] Berberian argues that her brothers have pursued a campaign to punish, belittle and humiliate her in retaliation for speaking against their management of the family trust. Dea Spanos Berberian filed suit Thursday, petitioning the court to put the Bolts on the block. Los Angeles Chargers co-owner claims move to LA has been 'financially The San Diego Chargers are a professional club Footballs based in San Diego, California. "It is unfortunate that our sister Dea, who clearly has no interest in continuing to participate in the family's businesses, has resorted to leveling false and provocative charges in an attempt to impose her will on the rest of the family," the statement read. Dean refuses to consider a sale of the Trusts Interest of the Chargers, insisting that the Co-Trustees continue to borrow more and more, and to force the charities and beneficiaries to wait for years and to hope while Dean speculates further on a football team, the petition said. Sister of Los Angeles Chargers controlling owner Dean Spanos - ESPN The lawsuit also states that Dean and Michael "believe to their cores that, regardless of what their parents intended and their wills specified, men are in charge and women should shut up.".