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Attorney: Chargers’ minority stake for sale

Discussion in 'Latest Chargers News & Headlines' started by ChargerRay, Nov 16, 2010.

  1. ChargerRay

    ChargerRay #FireMcCoy #FireReich #FirePagano Staff Member Super Moderator 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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