Dea Spanos looking to sell ownership stake in Chargers, what it means
By Jason Reed
The value of the LA Chargers has rapidly risen since the franchise moved to Los Angeles. Even though the team played in a soccer stadium for several years and are simply tenants of their current stadium, the Los Angeles move has brought immense value to the team.
It has also brought a lot of controversy. Fans who were loyal to San Diego did not follow the Bolts up the I-5 to Los Angeles. While the fanbase has since rebounded, it caused a legitimate fracture that genuinely broke the hearts of many SD-based fans.
It also caused controversy among the Spanos family, who own the Chargers. Dea Spanos filed a lawsuit against her brother, Dean Spanos, accusing him of "misogynistic" and "financially ruinous" business practices that stemmed from the franchise's move to LA. According to Dea Spanos, the move put the family more than $358 million in debt.
It now looks like this situation could be resolved, as Dea Spanos is reportedly looking to sell her share in the organization. Spanos owns 24% of the Chargers, which includes her 15% individual ownership and the 9% share she has in the family trust.
Dea Spanos selling her share doesn't mean much for the LA Chargers.
There are a lot of Chargers fans who are not pleased with ownership and have wanted the Spanos family to sell the team for quite some time. Those fans are going to be disappointed, as Dea selling her share of the team is not going to equate to anything other than a massive payday for her.
The Spanos family is going to have just as firm of a grip on the organization as before a potential sale. The Spanos brothers have the right of first refusal to purchase her 15% ownership stake of the team, which would keep them in control of the organization (giving them a bigger share in the process).
And based on how much the organization has increased in value in recent years, it does not seem like any of the Spanos brothers are interested in selling the organization any time soon. In fact, Dea Spanos conceding and selling her share of the organization suggests quite the contrary.
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The rest of the Spanos family might be in it for the long haul, much to the dismay of many Chargers fans.