This site uses Akismet to reduce spam. The stake in the Chargers makes up 83% of the trusts holdings. Alex G. Spanos Celebrated businessman, generous philanthropist and respected NFL owner have been some of the words used to describe Alex G. Spanos, who died Tuesday morning at age 95. 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." You must be logged in to leave a comment. "The statements made in today's court filing about my brother Dean Spanos are outrageously untrue," the statement read. 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. Chargers co-owner Dea Spanos Berberian is headed to court in an attempt to force the team to be sold, according to the Los Angeles Times . 2004-2023 CBS Interactive. Wait a minute. 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. CNN Sans & 2016 Cable News Network. After the Broncos' record $4.65 billion sale to the Walton-Penner family, one of Denver's AFC West rivals, the Chargers, could be next on the list of NFL franchises to be sold. Discovery Company. Dean and Michael Spanos and another sibling, Alexis Spanos Ruhl, have engaged in a public quarrel with Berberian. The continued battle for majority control of the Los Angeles Chargers has taken a new turn after co-owner Dea Spanos Berberian filed a lawsuit against her co-owner brothers Michael and Dean Spanos . Alex and Faye Spanos, the siblings' parents, who died three years ago, created the trust in 1998. 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. A page was dog-eared for quick reference. This year, Berberian has filed a lawsuit seeking control over the trust . Jun 13, 2022. Spanos and Berberian were left as co-trustees of the trust after the deaths of Alex and Faye Spanos in 2018. Maybe hed pay $2.55 billion for 51 percent of the Chargers. Suddenly, San Diegans have a Spanos to root for. Provided it is not disturbed by problems outside the sport, since he is suspected of beating his girlfriend. Spanos Berberian Wine Co 2021 W March Ln Stockton CA 95207. His other stops include the Palm Beach Post and the South Florida Sun-Sentinel. 24/7 coverage of breaking news and live events. 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. Berberian's sons, Dimitri and Lex Economou, also previously filed a lawsuit against Dean Spanos, alleging that he secretly diverted money from the trust. 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 . 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. 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.". Dea Spanos Berberian has filed another lawsuit aimed at wresting control of the NFL franchise the family owns. Neither Berberian nor Streisand responded to ESPN's requests for comment. In this desert, where three teams are rebuilding (Oakland, Denver and Kansas City), San Diego, this opens a boulevard. What will the Buffalo Bills do without defensive coordinator Leslie Frazier? The suit also asks the court to suspend and remove Spanos as a co-trustee and seeks unspecified financial damages awarded to Berberian. Philip Rivers, the wand is constantly growing. However, theres still reason to believe this could become a sticky situation for the Spanoses. Nearly four decades ago, the family patriarch, Alex Spanos, purchased a majority interest in the San Diego Chargers for $40 million. He died on October 9, 2018. Nearly half of that ($164,778,931) is . He is the son of Alex Spanos, who purchased majority interest in the team in 1984. Faye Spanos: A wonderful person, a wonderful life, Whos who of civic, sports leaders bid farewell to Alex Spanos, Your California Privacy Rights / Privacy Policy. Conceivably if a judge agrees with Spanos Berberian, the possibility could arise, however fraught with large obstacles, of the franchise being sold. None of the Children ever had to work for a dime of their wealth. She knew right then, the team needed new ownership. Seductive, ripe and fruity, this wine overflows with sunny black-cherry, red-cherry and blackberry flavors that verge on sweetness but are nicely balanced by fresh acidity and light tannins. Dea Spanos Berberian SECRETARY OF THE BOARD Dea is also Executive Vice President of the A. G. Spanos Companies and in charge of community relations. With Vincent Jackson, Malcolm Floyd, Chris Chambers and tight end Antonio Gates is served San Diego. What? SPORTS ILLUSTRATED is a registered trademark of ABG-SI LLC. STOCKTON Faye Spanos, the wife of Stockton developer Alex Spanos and the bedrock of her family as her husband once called her, died Tuesday night at age 92 of undisclosed causes. Dea Spanos Berberian says the reckless spending by her brother Dean, the team's controlling owner, has resulted in $353 million in debt for the family trust The budget shortfall is so bad,. Dea Spanos Berberian filed the suit Thursday in San Joaquin County Superior Court, as ESPN reported, seeking sole control of the Spanos Family Trust that constitutes more than one-third of. Berberian is being represented by Adam Streisand, who also represented Jeanie Buss when she wrested control of the Los Angeles Lakers from her brothers and Steve Ballmer in the trial to force Donald Sterling to sell the LA Clippers. The NFL recently brokered a gargantuan media rights deal worth more than $100 billion, raising the potential sales price of all 32 franchises. Spanos, Berberian and their two other siblings team vice chairman Michael Spanos and Alexis Spanos Ruhl each individually own 15% of the Chargers. They have four adult children: Dean Spanos, the Chargers' team president; Michael Spanos, the Chargers' executive vice president; Alexis Spanos Ruhl, a vice President of A.G. Spanos Companies; and Dea Spanos Berberian, a vice President of A.G. Spanos Companies. In the meantime if Tebow had not missed his two passes late in the game, the Denver team would probably have won. It was good the Chargers because Rivers was not a great day (21/37, 313 yards, 5 sacks, 1 interception). Berberian is reportedly seeking sole control of a family trust that accounts for more than one third of Chargers ownership. Dean will likely contend that if he is only allowed to use his position as a Co-Trustee to be a speculator to double and triple down on bad decisions of the past, he can turn things around because there are positive developments at the NFL level that should benefit the Chargers as well, the petition said. His four adult children Alexandra Spanos Ruhl, Michael Spanos, Dean Spanos and Berberian each owns 15% of the Chargers. Alexis Spanos Ruhl also released an additional statement defending Dean. 1:57 AM EDT, Sat June 11, 2022, Dean Spanos, seen here in 2021, is being sued by his sister who co-owns the Chargers franchise, CARSON, CA - NOVEMBER 03: Philip Rivers #17 of the Los Angeles Chargers passes the ball in the first half against the Green Bay Packers at Dignity Health Sports Park on November 3, 2019 in Carson, California. sadly, The Chargers are like the Commanders, I want to root for the team but their ownerships are too awful to root for. The claims include a charge that Spanos borrowed in excess of $60 million for the wasteful purchase of an airplane for Deans and Michaels use that has no legitimate business justification.. She also alleges that Dean diverted $105 million from the trust to various debts, claiming he manipulated the trust to borrow over $60 million "for the wasteful purchase" of a private plane "that has no legitimate business justification." The petition was filed in San Joaquin County Superior Court by attorneys representing Dea Spanos Berberian, who seeks control of a family trust that makes up 36% of the Chargers ownership. Si vous souhaitez personnaliser vos choix, cliquez sur Grer les paramtres de confidentialit. The lawsuit also . As for the offensive line, it is very competitive, even if the departure of guard Mike Goff is harmful. The petition by Dea Spanos Berberian, who serves as co-trustee of the family trust along with her brother, alleges the trust's debts and expenses exceed $353 million. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy, The Breer Report: Los Angeles Chargers Training Camp Takeaways, ESPNs Adam Schefter and Kimberley Martin reported. -> Site for Ron Berberian, Dea Berberian, Yet, once again, everything is there. The nephews claim that Spanos with the . They added that in no circumstances will this situation impact control of the franchise.. Information from The Associated Press was used in this report. 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. However, it still takes large risks on an entire season and he can not keep this pace. 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. I love how the rich have a dead ear to how ridiculous and entitled they sound, and are! I firmly believe Dea retained a lawyer right after The Chargers went for it on 4th down at their own 18 in that critical game against the Raiders that they lost. Dea Spanos Berberian has filed another lawsuit aimed at wresting control of the NFL franchise the family owns. Maybe taxpayers should buy both sides of the family a stadium so they can share the team. Spanos sued by sister as Chargers feud escalates, The future of the NFL combine: Is there really a chance it could end forever? -> Created for Dea Berberian, Ron Berberian. 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. owner of the San Diego Chargers, formed Spanos Berberian Winery, LLC. Its just mystifying as to what her strategy is, Fabiani added, since the right of first refusal always rules in situations such as this.. 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. Chargers chairman Dean Spanos has been sued by two of his nephews who allege that he secretly diverted money from the family trust that owns 36% of the team. The lawsuit was filed Thursday in San Joaquin County Superior Court by attorneys representing Dea Spanos Berberian, who is seeking sole control of a family trust that constitutes more than one-third of the Chargers' ownership. Spanos-Berberian Winery, LLC Website Get a D&B Hoovers Free Trial Overview Doing Business As:Bell Wine Cellars Company Description:? As first reported by ESPN's Adam Schefter and Kimberley Martin, Dea Spanos Berberian's attorneys filed the lawsuit this week in San Joaquin County Superior Court in California. It is unfortunate that our sister Dea, who clearly has no interest in continuing to participate in the familys businesses, has resorted to leveling false and provocative charges in an attempt to impose her will on the rest of the family, they say in the statement. He also served as the Angels beat writer for The Times and the Register. 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To characterize Dean as somehow being less than fully respectful of the women in our family is just not right.. To characterize Dean as somehow being less than fully respectful of the women in our family is just not right.". Dea Spanos Berberian, 62, is secretary of the board and executive vice president. 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. These owners are the reason why they are no longer the San Diego Chargers. Dean Spanos, for what it's worth, has long insisted he will never sell the Chargers. She also is in charge of community relations. 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. Chargers' owner Dean Spanos is being sued by his sister, Dea Spanos Berberian, for alleged misogynistic behavior and repeated breaches of fiduciary duty, per me and @ByKimberleyA. Vous pouvez modifier vos choix tout moment en cliquant sur le lien Tableau de bord sur la vie prive prsent sur nos sites et dans nos applications. "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.". 2023 www.recordnet.com. That is the precedent Berberian argues the court should follow. The filing also calls for the removal of her brother as a co-trustee and seeks unspecified damages. 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.

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