In her petition, Spanos Berberian argued mounting debt has imperiled the familys finances and the only solution is to put the NFL franchise on the market. In addition, according. In response to the filing, Dean Spanos and two of his siblings released a statement Thursday pledging to keep the team in the family. It underscored the importance that family played in his decisions. His plan is hope.. Los Angeles Chargers owner Dean Spanos is being sued by his sister Dea Spanos Berberian. True to Dean Spanos forecast late in the franchises San Diego tenure, the Chargers have remained a career vehicle for generations of Spanos family members, seven of whom are listed in the club directory in the teams 2020 media guide. 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. 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. 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. Dea Spanos Berberian has filed another lawsuit aimed at wresting control of the NFL franchise the family owns. 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). But Berberian, who runs the family trust with her brother as co-trustee, has been angling for more control inside the franchise since at least last year. 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. 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. To characterize Dean as somehow being less than fully respectful of the women in our family is just not right.". He was 95.. At the end of the 1994 season, the Chargers faced the San Francisco 49ers in Super Bowl XXIX and lost 49-26. "Many people say that, but it made us more harm than good to hear," coach Norv Turner tempers. 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. She filed papers in Los Angeles Superior Court in April contending that the. The filing was made this week in San Joaquin County Super Court by Dea Spanos Berberian, Dean's sister. Dean and Michael Spanos and another sibling, Alexis Spanos Ruhl, have engaged in a public quarrel with Berberian. Who would have thought Klein the old owner would be so sorely missed. Berberian agreed this week to allow the NFL to arbitrate that matter, according to the source. The franchise is currently a member of the Western Division of the American Football Conference (AFC) in the National Football League (NFL). . This week, Berberian also agreed to allow the NFL to arbitrate a settlement in the case. What a crock. 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. Reviews (209) 473-6827. 2023 www.recordnet.com. If Dea no longer wishes to be part of this family legacy, the three of us stand ready to purchase her share of the franchise, as our agreements give us the right to do, they stated. 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.. The petition was filed by Dea Spanos Berberian, who serves a co-trustee of the family trust with Chargers owner Dean Spanos. 2004-2023 CBS Interactive. Aztecs to honor 8 on Senior Night against Wyoming, but are all of them leaving? Statement Issued by the Families of Alexis Spanos Ruhl, Michael Spanos and Dean Spanos. Its just mystifying as to what her strategy is, Fabiani added, since the right of first refusal always rules in situations such as this.. Faye and Alex Spanos married in 1948 and would have marked their 70th wedding anniversary on Aug. 21. 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 SECRETARY OF THE BOARD Dea is also Executive Vice President of the A. G. Spanos Companies and in charge of community relations. Dea Spanos Berberian filed suit Thursday, petitioning the court to put the Bolts on the block. Regarding the breaches of fiduciary duty, Berberians petition contends that Spanos repeatedly manipulated the trusts financials for his personal gain. Berberian is trying to make the case that Dean has put the family trust in such deep . Alex Spanos was an American billionaire who primarily worked as a real-estate developer and founded 'A.G. Spanos Companies.'. Early life and education [ edit] 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. Her lawsuit also requests the court suspend and remove Dean Spanos as a co-trustee, accusing both he and brother Michael, the team's vice chairman, of operating "out of their deeply held misogynistic attitudes and sense of entitlement as the men in the family." afficher des publicits et des contenus personnaliss en fonction de vos profils de centres dintrt; mesurer lefficacit des publicits et contenus personnaliss; et. 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. Dea Spanos Berberian has filed another lawsuit aimed at wresting control of the NFL franchise the family owns. In both attack and defense, they have no real weaknesses. 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. Menu & Reservations Make Reservations . 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 the Chargers' ownership. What? 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. 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.. With the NFL combine starting Tuesday in Indianapolis, here are five positions the Los Angeles Chargers might focus on during this offseason. 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 . 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. 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 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. 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. Among other accusations of the lawsuit include using $105 million of the trust to pay off debts and another $60 million to buy a plane with no connection to the business. Jun 10, 2022 Dea Spanos Berberian, the sister of Chargers owner Dean Spanos, is suing her brothers for "misogynistic" treatment, "self-dealing" and "breaches of fiduciary duty," ESPN's Adam. Her lawsuit, filed Thursday in San Joaquin County Superior Court, also. 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. The Spanos family, screwing up the Chargers since 1984. sadly, The Chargers are like the Commanders, I want to root for the team but their ownerships are too awful to root for. 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 stake in the Chargers makes up 83% of the trusts holdings. This year, Berberian has filed a lawsuit seeking control over the trust . The new lawsuit, which focuses on ousting Dean Spanos as a co-trustee, presumably was drafted to navigate any potential arbitration obligation. 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. 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. 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. That is the precedent Berberian argues the court should follow. (In San Diego arose the old football chant, spelled with a twist: Dea-Fence Dea-Fence!). The lawsuit also . 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. 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. When she saw how much the Broncos went for, she said, I want some of that. Lawsuit was filed today in California and calls for Dean Spanos to be removed as a co-trustee. The league is just four months into its first full year of a collective bargaining agreement that runs 10 years and will allow for a 17-game season and expanded postseason in 2021. I can only refer you to the statement made by the three siblings that they have no intention of selling the team, said Chargers special counsel Mark Fabiani, when asked Thursday if the petition could result in the team being sold. Berberian, therefore, is looking to control a total of 51 percent of the team, making her majority owner. The debt includes $164 million associated with the Trusts Interest in the Chargers and at least $75 million in estate tax. 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.". Spanos-Berberian Wine Company, LLC in Stockton, CA . That's mostly because of a longstanding legal dispute that continued this week, when the sister of current Chargers owner Dean Spanos filed a lawsuit accusing her brother of "misogynistic" and "financially ruinous" business practices, arguing that the Spanos family has no choice but to sell the team in order to pay off its debts. Her siblings say they love owning the football team. Spanos and Berberian were left as co-trustees of the trust following the deaths of Alex and Faye Spanos in 2018. Spanos will win again if the National Football League successfully maneuvers to push the case outside a courtroom altogether. 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.. 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. 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. All Rights Reserved. Born and raised in Stockton, California, Alex was from a middle-class Greek family. Suddenly, San Diegans have a Spanos to root for. 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. The NFL recently brokered a gargantuan media rights deal worth more than $100 billion, raising the potential sales price of all 32 franchises.
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