Charger fans worldwide, rejoice – Dean Spanos, generous The hated part owner of the LA Chargers, is being sued by his sister, Dea Spanos Berberian, for repeated misconduct towards her sisters and breach of fiduciary duty in the management of the fund. trust of the Spanos family.
Dea, Dean, and their two other siblings each own 15% of the group’s shares, with a 36% trust of the responsible family. However, Spanos has exercised more control of the franchise than its siblings as both former CEO and Chargers president and current president. He’s also the guy who made the insanely unpopular decision in 2017 to move the team to LA from San Diego, where they’ve resided since 1961. Chargers fans hate it, Los Angeles residents hate it. , other NFL owners hate it, and Dea obviously hates it too. A bunch of San Diego-based fans are still bitter, which is why this lawsuit seems like a sweet retribution for his betrayal of the city.
Since their parents died in 2018, Spanos and Berberian have been co-managers of the family trust, but, according to ESPN, Berberian alleges that her two brothers, Dean and Michael “believe at their core that, no matter what their parents’ intentions and how their will dictates, men are responsible and Women should be silent.” Honestly, that sounds about right – although there are a number of women who have inherited teams throughout the tournament from their husbands (Georgia Frontiere of the Rams) and fathers (some of whom have handed over management rights). for their son), NFL ownership is generally still a boys’ club. Exceptions to the rule are treated as such – apparently, even within one’s own family.
Berberian revealed in the lawsuit that her brother’s decision to move the team to Los Angeles damaged the franchise’s finances and, according to the relationship, their family’s wealth. The trust, she said, has more than $350 million in debt — a debt Berberian alleges was caused by Spanos using the trust money to make personal purchases and pay off its personal debts. She alleges her brother took $105 million from the trust to settle various debts and borrowed $60 million for non-business related purchases. Berberian believes the only option left is to sell the team to get out of debt, but she cannot sell the trust if his name is still on it.
In her effort to have him removed as a co-trustee and take on full control of the trust herself as well as to become the majority owner of the team, Berberian is employing the same lawyer who represented Lakers owner Jeannie Buss in her own intra-family lawsuit after the death of her father, Dr. Jerry Buss. Though I don’t see NFL leadership getting involved in family drama, the treatment of female employees from league ownership has certainly come to the forefront during this past year with revelations about Dan Snyder’s Washington Team and franchise culture.