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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. Per ESPN's Adam Schefter and Kimberley A. Martin, Berberian filed a lawsuit in California on Friday for . As it turns out, Dea Spanos Berberian, one of Dean's younger sisters, is reportedly attempting to force her three siblings to sell their remaining stake in the Los Angeles . 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). The . As for the offensive line, it is very competitive, even if the departure of guard Mike Goff is harmful. 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 NFL has held off intervening . 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. In the meantime if Tebow had not missed his two passes late in the game, the Denver team would probably have won. Regarding the "breaches of fiduciary duty," Berberian's petition contends that. 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. Maybe taxpayers should buy both sides of the family a stadium so they can share the team. Dean and Michael Spanos along with their sister Ruhl released a joint statement Friday, denouncing the actions of Berberian. Spanos, Berberian and their two other siblings team vice chairman Michael Spanos and Alexis Spanos Ruhl each individually own 15% of the Chargers. I see another great franchise going down in flames due to greed of the already wealthy. Streisand previously represented Steve Ballmer in his purchase of the Clippers and Jeanie Buss in the legal fight that cemented her as controlling owner of the Lakers. 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. 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. Early life and education [ edit] Jun 13, 2022. Sorry for my poor english translation. But it is the life of the Chargers in January next will determine the success or otherwise of their season. Everyone feels entitled to everything. 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. 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. In both attack and defense, they have no real weaknesses. 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 ." Berberian's sons, Dimitri and Lex Economou, also previously filed a lawsuit against Dean Spanos, alleging that he secretly diverted money from the trust. This week, Berberian also agreed to allow the NFL to arbitrate a settlement in the case. 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 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.. Rams decide to part ways with linebacker Bobby Wagner, who tallied a team-high 140 tackles, six sacks and two interceptions in the 2022-23 season. The families of Dean Spanos, Alexis Spanos Ruhl and Michael Spanos released a statement later Friday reaffirming their unity. The NFL has declined comment on the matter. section: | slug: chargers-owner-dean-spanos-sued-by-sister-for-financially-ruinous-business-family-rebuts-false-charges | sport: football | route: article_single.us | 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. This year, Berberian has filed a lawsuit seeking control over the trust . 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 franchise is currently a member of the Western Division of the American Football Conference (AFC) in the National Football League (NFL). 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. A legal filing by Dea Spanos Berberian seeking to force the sale of the Chargers cites $353 million in family trust debt. "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," the statement read. 513. Nearly half of that ($164,778,931) is . Spanos took over daily operations from his father in 1994, becoming president and CEO, until he passed operations to his own sons in 2015. 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 . 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. With the NFL combine starting Tuesday in Indianapolis, here are five positions the Los Angeles Chargers might focus on during this offseason. He also has support from other family members and beneficiaries (though not all).. In addition, according. She is represented by Adam Streisand, the same attorney who helped Jeanie Buss take control of the Los Angeles Lakers in the NBA. Jaguars won't spend big, but here are five players they could target in free agency, The most memorable pre-NFL draft workouts ever: Coaches, scouts, execs make their picks, 2023 NFL franchise tag tracker: Raiders tag Josh Jacobs, the NFL's rushing leader. 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. 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.". Adam Streisand, the attorney for Berberian, declined to comment. Rich people and their perceived reputations. Already looking forward to the 2023 NFL Draft? 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. Berberian, therefore, is looking to control a total of 51 percent of the team, making her majority owner. His sons have key roles, too. they can afford. Her petition includes claims against Steven Cohen, the executive vice president of The Spanos Corporation. 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. Key Principal:Ronald Berberian See more contacts Industry:Wines Printer Friendly View They said that, if necessary, they were prepared to buy their sisters stake in the franchise. (Photo by John McCoy/Getty Images). I agree to receive the "Pick Six Newsletter" and marketing communications, updates, special offers (including partner offers), and other information from CBS Sports and the Paramount family of companies. Born and raised in Stockton, California, Alex was from a middle-class Greek family. 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). That included mediation with a retired L.A. County Superior Court judge that didnt work. Spanos will win again if the National Football League successfully maneuvers to push the case outside a courtroom altogether. 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.. However, it still takes large risks on an entire season and he can not keep this pace. Discovery Company. 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.". 2. The filing was made this week in San Joaquin County Super Court by Dea Spanos Berberian, Dean's sister. 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. 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. Dean Spanos took over as managing owner of the Chargers in 1994, 10 years after his father bought the franchise. Smart girl. Dean Spanos has controlled the teams day-to-day management since 1994. Dea Spanos Berberian, 62, is secretary of the board and executive vice president. Not a member? Additionally, Berberian claims the Chargers move from San Diego to Los Angeles was financially ruinous and the family needs to sell to recoup the trusts debt. The San Diego Chargers are a professional club Footballs based in San Diego, California. Information from The Associated Press was used in this report. 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. At the end of the 1994 season, the Chargers faced the San Francisco 49ers in Super Bowl XXIX and lost 49-26. That was four years after Alex ceded. He is the son of Alex Spanos, who purchased majority interest in the team in 1984. 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. In this latest filing citing financial statements Berberian says the trusts debts totaled more than $358 million as of Dec. 31. Regarding the breaches of fiduciary duty, Berberians petition contends that Spanos repeatedly manipulated the trusts financials for his personal gain. 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. Last year, Berberian filed a lawsuit attempting to force the sale of the family trust, including its stake in the Chargers franchise. The stake in the Chargers makes up 83% of the trusts holdings. Tim will still work its launch. Dean Spanos took over as managing owner of the Chargers in 1994, 10 years after his father bought the franchise. The Chargers play their home games at Qualcomm Stadium. 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. For more Los Angeles Chargers coverage, go toCharger Report. John oversees the teams football operations and A.G. heads the business side. The making and sale of fine wine is a pursuit of Dea Spanos Berberian, Alex's first born daughter, secretary of the A.G. Spanos board. The NFL has declined comment on the matter. They added that in no circumstances will this situation impact control of the franchise.. It was probably something that Tim Tebow. 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). However, the potential on this front could explain the timing of Spanos Berberians legal push to have the team sold. Business leader Dea Berberian, Adobe executive Brian J. Miller and philanthropist Janet Rogers are the newest members of the University of the Pacific's Board of Regents. 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. ", 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. All 2010 2007 Prices Profile Reviews Vintages Analytics 1 Price Compact view Set alert --- 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. 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. 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." But the Chargers are much higher. He was 95.. Alexis Spanos Ruhl BOARD MEMBER Alexis serves as a company liaison to local non-profit agencies. Most of the debt is money the Chargers loaned the family trust, a common practice because the team can get a lower interest rate. Tom Eddy Wines Spanos-Berberian Vineyard Cabernet Sauvignon Napa Valley, USA Avg Price (ex-tax) $ 452 / 750ml Red - Bold and Structured 3 from 1 User Rating 89 / 100 from 2 Critic Reviews Only a couple of critics have rated this Napa Valley wine so far. One proposed change would be a drop in the estate-tax exemption to $3.5 million from $11.7 million. 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. 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. I love how the rich have a dead ear to how ridiculous and entitled they sound, and are! "The statements made in today's court filing about my brother Dean Spanos are outrageously untrue," the statement read. 8 Attorneys for Dea Spanos Berberian, Co- Trustee of the Alex and Faye Spanos Family 9 Trust, dated January 27, 1998, as amended and restated on June 28, 2007 10 11 SUPERIOR COURT OF THE STATE OF CALIFORNIA 12 COUNTY OF LOS ANGELES 13 14 In re the Case No.
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