Tom Gores' purchase of a 27% stake in the Los Angeles Chargers was approved by NFL team owners on Tuesday during the league's fall meetings in Atlanta.
Tom Gores' purchase of a 27% stake in the Los Angeles Chargers was approved by NFL team owners on Tuesday during the league's fall meetings in Atlanta.Gores, who also owns the NBA's Detroit Pistons, bought the 24% share held by Dea Spanos Berberian, which includes 9% that is in a family trust that has a 36% stake in the team. He also purchased 1% each from shares owned by Dean Spanos, Alexis Spanos Ruhl and Michael Spanos for estate planning purposes.
However, this is a purchase by Gores and not affiliated with Platinum Equity.Despite having more than a one-quarter stake, Gores will not have a role in the Chargers' daily business or a path to a controlling stake. The Spanos family owns 69% of the Chargers with 4% controlled by legacy owners from the franchise's early days in San Diego.Alex Spanos bought the San Diego Chargers in 1984 and Dean Spanos took over managing the franchise in 1994.
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