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Attorney: Chargers’ minority stake for sale

Discussion in 'San Diego Chargers Hall of Champions' started by RaiderRay, Nov 16, 2010.

  1. RaiderRay

    RaiderRay RIP SD Chargers...Go Padres, Gulls, Ducks, Raiders Staff Member Administrator Podcaster

    Jun 20, 2005
    Source: Associated Press

    By Bernie Wilson

    SAN DIEGO (AP)—An attorney says San Diego Chargers owner Alex Spanos is looking to sell a minority stake to help with estate planning.

    Mark Fabiani, who has led the Chargers’ push for a new stadium, says the percentage to be sold will be determined by negotiations with a potential buyer. Spanos and his wife, Faye, own 36 percent. Their four children each own 15 percent. Two minority owners own the other 4 percent.

    Fabiani says the Spanos family will continue to hold a controlling majority stake in the team.

    Fabiani says the sale of the minority share has nothing to do with stadium efforts.

    The Chargers have long been rumored as a possible tenant if a new stadium is built in Los Angeles.

    The sale was first reported by FanHouse.com.

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