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-> Created for Dea Berberian, Ron Berberian. Alexis Spanos Ruhl BOARD MEMBER Alexis serves as a company liaison to local non-profit agencies. (Late billionaire Alex Spanos purchased the team in 1984, and his four children, including Dean and Dea, each own 15 percent of the club, while the family trust owns 36 percent.) Unfortunately, our sister Dea seems to have a different and misguided personal agenda., They said operations of the Chargers will be entirely unaffected by this matter.. "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. Dean's sister Dea Spanos Berberian filed a lawsuit last week in San Joaquin County Superior Court seeking full control of the Spanos Family Trust, which has a 36 percent stake in the Chargers. Multiple outlets reported the lawsuit claims . 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. Discovery Company. Dean has failed to present any plan to address the Trusts bleak financial picture, because there is no other plan than the one urged by [Berberian]. And if it were accepted that the team must be sold to take advantage of favorable tax treatment under current law, selling a controlling stake would fetch the highest price and would align with fiduciary responsibility. 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 . 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.. San Diego did not actually justified the compliments on the ground. Dean Spanos has controlled the teams day-to-day management since 1994. Suddenly, San Diegans have a Spanos to root for. breach of fiduciary duty and surcharge against dean spanos; 2. suspension and removal of dean spanos as co-trustee; 3. aiding and abetting breaches of fiduciary duty against michael spanos and steven cohen; 4. disqualification of michael spanos as successor co-trustee; and 5. an order instructing dea to refuse to agree to letters of intent. Spanos-Berberian Winery, LLC Website Get a D&B Hoovers Free Trial Overview Doing Business As:Bell Wine Cellars Company Description:? With her attempt to force the trust to sell the team heading to arbitration, she perhaps can get to the same place if she seizes control of the trust and thus can in her capacity as the sole trustee bundle the 36 percent plus the 15-percent chunk she individually owns and sell controlling interest to someone like Josh Harris, who was ready to bid $5 billion for 100 percent of the Broncos equity. Dea and Dean Spanos, as co-trustees, have a common goal of wanting to be on solid legal ground. The family trust controls 36% of the team with the remainder owned by nonfamily members. He also has support from other family members and beneficiaries (though not all).. Berberian filed a lawsuit looking to gain full control of the Spanos family trust, which would remove Spanos as co-trustee, along with financial damages. She also accuses her brothers of fiduciary mismanagement that has left the Spanos family trust with more than $358 million of debt as of the end of 2021, the lawsuit shows. The Chargers are the only franchise ever so slightly stable for several seasons in the AFC West, by far the lowest pool of the American Conference. Chargers chairman Dean Spanos is being sued by two of his nephews who allege that he secretly diverted money from the family trust that owns the team. 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 player of the match for San Diego as Ryan Matthews (26 races, 120 yards, 3 trials). Following the deaths of their parents in 2018, Spanos and Berberian were named co-trustees of the trust, which holds a 36% ownership stake in the team, court filings show. 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. One proposed change would be a drop in the estate-tax exemption to $3.5 million from $11.7 million. If there is a significant tax risk on the horizon, an issue the L.A. judge and the Spanos family lawyers may have to sort out is whether waiting to sell the team is a violation of fiduciary responsibility. Her brothers and sisters affectionately refer to her as "bossy." 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 |. 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. After Alex Spanos and his wife, Faye, died in Stockton in 2018, Dean Spanos, the oldest of the four children, and Berberian were left as the sole co-trustees. In addition, according to the filing, the trust doesnt have a plan to pay more than $22 million it has pledged to charities. On the surface, Spanos Berberians claim of debt as a driving force to sell the team doesnt seem convincing. 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.". And that ultimately may be why this lawsuit was filed. 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. The Chargers have six players and a coach entered the Pro Football Hall of Fame: The wide receiver Lance Alworth (1962-1970), the defensive end Fred Dean (1975-1981), quarterback Dan Fouts on (1973-1987), head coach / general manager Sid Gillman (1960-1969, 1971), wide receiver Charlie Joiner (1976-1986), offensive lineman Ron Mix (1960-1969) and the tight end Kellen Winslow (1979-1987). 2023 ABG-SI LLC. 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. These owners are the reason why they are no longer the San Diego Chargers. Disputed loan at center of Commanders probe. Dea Spanos Berberian, sister of Dean Spanos, has filed a petition in Los Angeles County Superior Court in an attempt to force the Spanos family to sell the Chargers. LOS ANGELES - 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. 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. As noted by Daniel Kaplan of TheAthletic.com, Berberian agreed earlier this week that her 2021 lawsuit, aimed at forcing the sale of the 36-percent interest held by the familys trust, should go to the NFLs secret, rigged kangaroo court (i.e., arbitration). Alex Spanos was an American billionaire who primarily worked as a real-estate developer and founded 'A.G. Spanos Companies.'. Sorry for my poor english translation. 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. To characterize Dean as somehow being less than fully respectful of the women in our family is just not right.. Changes to the tax code being considered by President Joe Bidens administration could have a huge effect on wealthy individuals and families in the U.S., writes Barrons Abby Schultz. 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. And then, getting way ahead of ourselves, if other large obstacles were surmounted, the Chargers could be relocated to San Diego, making Dea Spanos Berberian as popular here as Fernando Tatis Jr. Not happening, said Dean Spanos and his other two siblings. But it is the life of the Chargers in January next will determine the success or otherwise of their season. Spanos took over daily operations from his father in 1994, becoming president and CEO, until he passed operations to his own sons in 2015. . The club began playing in 1960 as a member of the AFL (American Football League), under the name "Los Angeles Chargers. The arrival of a new coordinator, Ron Rivera, in the middle of last season, has restored a bit of punch to this solid squad, both against the run than against the pass. Dean Alexander Spanos (born May 26, 1950) is the chairman and owner of the National Football League (NFL)'s San Diego / Los Angeles Chargers franchise. 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. I love how the rich have a dead ear to how ridiculous and entitled they sound, and are! section: | slug: chargers-owner-dean-spanos-sued-by-sister-for-financially-ruinous-business-family-rebuts-false-charges | sport: football | route: article_single.us | Dea Spanos Berberian filed suit Thursday, petitioning the court to put the Bolts on the block. He had a very difficult first season. Two months after a sister of Chargers controlling owner Dean Spanos filed a court petition to try to force the sale of the team, a dispute has emerged over whether the matter should be resolved. 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. 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.". 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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. 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. Last year, Berberian filed a lawsuit attempting to force the sale of the family trust, including its stake in the Chargers franchise. And he has been fighting, along with my brother Michael . The Spanoses reside in Stockton, California.Spanos also owns property in Las Vegas, Nevada. Together, Ron and Dea, are dedicated to enhancing the experience of visiting Bell Wines and offering the best quality of their award-winning wines. 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. The Chargers won one AFL title in 1963 and reached the playoffs five times in the AFL and the AFL Championship four times before joining the NFL when the AFL-NFL merger. 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. 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. Spanos sued by sister as Chargers feud escalates, The future of the NFL combine: Is there really a chance it could end forever? She is represented by Adam Streisand, the same attorney who helped Jeanie Buss take control of the Los Angeles Lakers in the NBA. Recipients? 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. A lawyer familiar with the matter told ESPN that Berberian's motive for filing the suit is to embarrass Spanos publicly. 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." To characterize Dean as somehow being less than fully respectful of the women in our family is just not right, Ruhl continued. Si vous ne souhaitez pas que nos partenaires et nousmmes utilisions des cookies et vos donnes personnelles pour ces motifs supplmentaires, cliquez sur Refuser tout. Dean Spanos, for what it's worth, has long insisted he will never sell the Chargers. Dea Spanos Berberian, sister of Los Angeles Chargers owner Dean Spanos, is trying to force a sale of the franchise because of the family's current financial state. There must be a part of success in the NFL. The Chargers are the only team to have reached the playoffs having started the season at 0-4 (1992), and the only team to have reached the playoffs having started the season 4-8 (2008). During the 34 years following the merger, the Chargers went ten times in the playoffs four times and reached the final of the AFC. The legal conflict came into public view in April 2021, when Berberian petitioned the Los Angeles County Superior Court to put the trust up for sale. 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.". Information from The Associated Press was used in this report. At the end of the 1994 season, the Chargers faced the San Francisco 49ers in Super Bowl XXIX and lost 49-26. 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. 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 . Her siblings say they love owning the football team. He is the son of Alex Spanos, who purchased majority interest in the team in 1984. "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.". 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"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. Alex G. Spanos Founder, 1923 - 2018 Brightening the teams financial outlook for 2021, coming off a season in which all NFL clubs saw stadium-related revenues fall off sharply because of the pandemic, NFL Commissioner Roger Goodell said he expects capacity crowds to be allowed at NFL games next season. Dean Spanos, who owns 15% of the Los Angeles Chargers, is feeling pressure from his sister, Dea Spanos Berberian, to sell the Spanos family trust share of the franchise, which is reportedly in debt. Nearly four decades ago, the family patriarch, Alex Spanos, purchased a majority interest in the San Diego Chargers for $40 million. They said that, if necessary, they were prepared to buy their sisters stake in the franchise. In the suit, Berberian also accuses both her brothers, Dean and Michael Spanos, of 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., She also claimed her brothers believe regardless of what their parents intended and their wills specified, men are in charge and women should shut up.. sadly, The Chargers are like the Commanders, I want to root for the team but their ownerships are too awful to root for. Early life and education [ edit] Alexander Gus Spanos (September 28, 1923 - October 9, 2018) is an American real estate developer and self-made billionaire of Greek origin who is the majority owner of the NFL's Los Angeles Chargers, who also founded the A.G. Spanos Companies. CNN Los Angeles Chargers owner and chairman Dean Spanos is being sued by his sister and team co-owner Dea Spanos Berberian, who's accusing him of "misogynistic" behavior and repeated. The filing. All Rights Reserved. Regarding the breaches of fiduciary duty, Berberians petition contends that Spanos repeatedly manipulated the trusts financials for his personal gain. 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 . 2023 Cable News Network. According to the filing, Berberian attempted numerous times and numerous ways to resolve the dispute. 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 ." -> Created for Dea Berberian, Ron Berberian. 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.