Tom Gores, the owner of the Detroit Pistons, has agreed to acquire a 27% stake in the Los Angeles Chargers, as confirmed by multiple sources, including ESPN. The deal encompasses the 24% share owned by Dea Spanos Berberian and a 1% share owned collectively by her three siblings: Dean, Michael, and Alexis Spanos Ruhl. This acquisition is pending approval from NFL owners and is likely to be discussed at the upcoming league meetings in Atlanta next month.
The Spanos family has experienced significant turmoil over the past few years, primarily due to legal disputes initiated by Berberian. Since 2021, she has filed several lawsuits, one of which sought to force the sale of the Chargers.
However, as part of the new agreement, Berberian has agreed to drop her legal actions against the team and Dean Spanos. Despite the changes in ownership stakes, Dean Spanos will retain complete control over the franchise, and the Spanos siblings will collectively own 69% of the team.
Gores’s purchase of the Chargers will be a personal investment, distinct from his private equity firm, Platinum Equity. Consequently, Gores will not possess any governance rights concerning the team. This acquisition marks Gores’s second involvement in sports franchise ownership; he initially bought the Pistons in 2011 and later acquired full ownership by buying out Platinum Equity’s shares in 2015.
This transaction stands out as the first confirmed deal following the NFL’s recent approval allowing private equity firms to purchase up to 10% of passive stakes in franchises. However, Gores’s investment does not involve any representation from a private equity firm, making it a unique situation in light of the league’s evolving policies.
The ownership saga of the Spanos family took a public turn in April 2021 when Berberian petitioned the Los Angeles County Superior Court for the Chargers to be put up for sale. She alleged various issues against Dean Spanos, including accusations of misogyny and self-dealing. The other siblings have publicly defended Dean, expressing their unity and commitment to the family legacy, while characterizing Berberian’s claims as unfounded.
