Berberian's sons, Dimitri and Lex Economou, also previously filed a lawsuit against Dean Spanos, alleging that he secretly diverted money from the trust. The value of the trusts assets would seem to far exceed the debt. No doubt that Tebow had better be ready for next season opposing defensive coordinators will certainly have adjusted their defensive tactics to counter it. With Vincent Jackson, Malcolm Floyd, Chris Chambers and tight end Antonio Gates is served San Diego. In this desert, where three teams are rebuilding (Oakland, Denver and Kansas City), San Diego, this opens a boulevard. In addition, according. Spanos and Berberian were left as co-trustees of the trust after the deaths of Alex and Faye Spanos in 2018. 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. 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. they can afford. 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. 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. Moreover they are worth much better than their record 2008-2009. The filing was made this week in San Joaquin County Super Court by Dea Spanos Berberian, Dean's sister. Do Not Sell or Share My Personal Information. Turn on desktop notifications for breaking stories about interest? Suddenly, San Diegans have a Spanos to root for. Si vous souhaitez personnaliser vos choix, cliquez sur Grer les paramtres de confidentialit. 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. Get directions, reviews and information for Spanos Berberian Wine Co in Stockton, CA. 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. 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. 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. You may occasionally receive promotional content from the Los Angeles Times. 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. 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. Faye and Alex Spanos married in 1948 and would have marked their 70th wedding anniversary on Aug. 21. She is represented by Adam Streisand, the same attorney who helped Jeanie Buss take control of the Los Angeles Lakers in the NBA. Berberian agreed this week to allow the NFL to arbitrate that matter, according to the source. 2004-2023 CBS Interactive. 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.". Each sibling owns an additional 15% of the . 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. Alexander Gus Spanos (September 28, 1923 - October 9, 2018) was an American billionaire real estate developer, founder of the A. G. Spanos Companies, and the majority owner of the San Diego / Los Angeles Chargers of the National Football League (NFL). Spanos Berberian Wine Co 2021 W March Ln Stockton CA 95207. The three of us and our children, representing more than 75% of the family and its ownership of its business, stand united in support of our parents and grandparents wishes, including as to the continued ownership and operation of the Chargers.. 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. But the Chargers are much higher. Berberian, the sister of the Chargers' owner . -> Site for Ron Berberian, Dea Berberian. Born and raised in Stockton, California, Alex was from a middle-class Greek family. Spanos earned varsity letters in running and diving at the University of the Pacific in Stockton and later distinguished . The Spanos brothers, her lawsuit argues, "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 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 . 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. They are the sons of one of Spanos' sisters, Dea Spanos Berberian. As proof, it took the Chargers to make a record of 8-8 last year to win their division, when New England, with 11 victories, has not even played in the playoffs Californians are still likely to dominate their three rivals this season. 236. 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. 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. 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.. They stated Spanos Berberian seems to have a different and misguided personal agenda from their own plan to keep the NFL club in the family for generations to come. Follow Receive an email notification when changes occur for Dea Spanos Berberian,. Suddenly, San Diegans have a Spanos to root for. His plan is hope.. 2023 www.recordnet.com. --- A page was dog-eared for quick reference. Her three siblings are not thrilled with the situation. The Carolina Panthers on Friday announced they had hired Thomas Brown, the Rams assistant head coach last season, as their offensive coordinator. "The statements made in today's court filing about my brother Dean Spanos are outrageously untrue," the statement read. Already looking forward to the 2023 NFL Draft? Multiple outlets reported the lawsuit claims . NFL Combine 2023: Colossal Richardson breaks QB records, Jackson Mahomes accused of assault at Kansas restaurant, NFL combine measurements: Full list of WR, TE numbers, Agent's Take: Rodgers' trade value, logistics, best fit, Ex-Patriots star McGinest facing 8 years in prison, Gould to test market, won't kick for 49ers in '23. Dea and Dean Spanos, as co-trustees, have a common goal of wanting to be on solid legal ground. 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. 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. 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. You must be logged in to leave a comment. Los Angeles Chargers not moving to London, owner angrily tells LA Times, Her lawsuit claims that Dean and Michael Spanos believe to their cores that, regardless of what their parents intended and their wills specified, men are in charge and women should shut up.. Learn how your comment data is processed. Many very important planning techniques and structures will not be possible after enactment, warns Alan Gassman of Forbes. Early life and education [ edit] The . Despite rumors to contrary and salary-cap concerns, Chargers general manager Tom Telesco declared star receiver Keenan Allen isnt going anywhere.. LOS ANGELES Los Angeles Chargers controlling owner Dean Spanos has been accused of repeated breaches of fiduciary duty and misogynistic behavior in a lawsuit filed by his sister. 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.". Berberian contends the situation is too dire to wait. Statement Issued by the Families of Alexis Spanos Ruhl, Michael Spanos and Dean Spanos. A legal filing by Dea Spanos Berberian seeking to force the sale of the Chargers cites $353 million in family trust debt. In addition, according to the filing, the trust doesnt have a plan to pay more than $22 million it has pledged to charities. The Spanos family owns 96 percent of the Chargers franchise, and a four percent stake belongs to holdovers from the Eugene Klein ownsership group. To characterize Dean as somehow being less than fully respectful of the women in our family is just not right.. The new lawsuit, which focuses on ousting Dean Spanos as a co-trustee, presumably was drafted to navigate any potential arbitration obligation. 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. 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. The NFL recently brokered a gargantuan media rights deal worth more than $100 billion, raising the potential sales price of all 32 franchises. 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). Key Principal:Ronald Berberian See more contacts Industry:Wines Printer Friendly View Dean Spanos took over as managing owner of the Chargers in 1994, 10 years after his father bought the franchise. His sons have key roles, too. But it is the life of the Chargers in January next will determine the success or otherwise of their season. 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. Pour en savoir plus sur la faon dont nous utilisons vos donnes personnelles, veuillez consulter notre politique relative la vie prive et notre politique en matire de cookies. They added that in no circumstances will this situation impact control of the franchise.. The club began playing in 1960 as a member of the AFL (American Football League), under the name "Los Angeles Chargers. 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 families of Dean, Michael and Alexis Spanos Ruhl have since rebutted Berberian's claims in a statement issued to CBS Sports via Mark Fabiani, special counsel for the Chargers: "It is unfortunate that our sister Dea, who clearly has no interest in continuing to participate in the family's businesses, has resorted to leveling false and provocative charges in an attempt to impose her will on the rest of the family. Los Angeles Chargers owner Dean Spanos is being sued by his sister Dea Spanos Berberian. 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. The petition by Dea Spanos Berberian, who serves as co-trustee of the family trust along with her brother, alleges the trusts debts and expenses exceed $353 million. 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. The stake in the Chargers makes up 83% of the trusts holdings. 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. What a crock. In an attempt to force the sale of the Chargers, a sister of controlling owner Dean Spanos filed a petition in Los Angeles County Superior Court on Thursday arguing that mounting debt has imperiled the familys finances and the only solution is to put the NFL franchise on the market. There must be a part of success in the NFL. 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. Neither Berberian nor Streisand responded to ESPN's requests for comment. 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. Its just mystifying as to what her strategy is, Fabiani added, since the right of first refusal always rules in situations such as this.. owner of the San Diego Chargers, formed Spanos Berberian Winery, LLC. Berberian points to one instance where she said financials were manipulated to borrow more than $60 million for the wasteful purchase of an airplane for Deans and Michaels use that has no legitimate business justification, according to the lawsuit. 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. Everyone feels entitled to everything. The Spanos family, screwing up the Chargers since 1984. On the surface, Spanos Berberians claim of debt as a driving force to sell the team doesnt seem convincing. The NFL has declined comment on the matter. 6-keys: media/spln/nfl/reg/free/stories, By pressing sign up, I confirm that I have read and agree to the. He had a very difficult first season. Chargers owner Alex Spanos, a plain-spoken, self-made billionaire from Stockton who bought a majority stake in the NFL football club in 1984, died Tuesday morning, the team announced. They now have an emerging superstar at quarterback in Justin Herbert and share the $5-billion SoFi Stadium with the Rams. The Chargers play their home games at Qualcomm Stadium. What will the Buffalo Bills do without defensive coordinator Leslie Frazier? When the Chargers moved to Los Angeles in 2017 after 56 seasons in San Diego, they faced the daunting task of paying off a $650 million relocation fee to the NFL and building a fan base in a market crowded with college and professional sports. That may be a blessing in disguise because Denver will have the first pick in the draft next April. In 1948, Spanos married Faye Papafaklis.
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