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Report: Chargers Owner Looking to Sell Minority Stake

Discussion in 'Chargers Fan Forum' started by matilack, Nov 15, 2010.

  1. matilack

    matilack Take A Knee McCree!!!

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    Report: Chargers Owner Looking to Sell Minority Stake - voiceofsandiego.org: The Hall



    Alex Spanos, who became the club's majority owner in 1984, is now 87 years old and reportedly in poor health. He and his wife now own 36 percent of the club, while each of his four children have 15 percent stakes, and they have hired Goldman Sachs to sell a minority share in the team. Representatives from Goldman have met recently with several wealthy individuals in L.A. about the Chargers' stake, according to people familiar with the matter ...

    Mark Fabiani, who has been leading the Chargers' efforts to develop a new stadium, told FanHouse that the Spanos family is looking to sell a stake in the team solely for "estate-planning purposes." Greg Carey, a managing director at Goldman and its point man on stadium and sports deals, confirmed that the company is working with the Chargers but has not been retained by the NFL or (potential L.A. stadium developer) AEG to find partners for a potential L.A. ownership group.


    The news about Spanos' potential sale of part the team comes as a stadium project in L.A. hurdles forward. AEG recently issued a proposal to design a $725 million stadium next to the L.A. Live sports and entertainment complex it owns in downtown Los Angeles. The home of the NBA's Los Angeles Lakers, the Staples Center, anchors the complex.

    In the meantime, Fabiani broke his silence last Friday about the biggest gift given to the team's quest for a new San Diego stadium for years — the lifting of the downtown redevelopment cap. The cap's elimination allows for easier public subsidizing of a stadium at the proposed East Village site.

    "Of course, whether any of that money would be spent on a stadium is up to city leaders and the voters," Fabiani said in a Q&A on the team's website. "But, at least in theory, there are newly available resources to work with."
     
  2. RM24

    RM24 BoltTalker

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    Oh great. The most corrupt organization in the world that stole 13 Billion from the "Bailout" is going to handle this. Great....:mad:
     
  3. Fouts

    Fouts I heart Deano!

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    This means they are going to LA. (not OC Roski)

    Philip Anschutz has the money and plan for a downtown LA stadium, the NFL is drooling for this plan. I guess TJ Simers was on to something, of course, the union, and league need to resolve their labor dispute.
     
  4. ntman68

    ntman68 Well-Known Member

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    "Ladies and gentlemen, introducing your 2013 Los Angeles Chargers"
     
  5. SDRaiderH8er

    SDRaiderH8er Well-Known Member

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    you can watch them up there, I will never root for a team that calls LA home
     
  6. Trumpet_Man

    Trumpet_Man Well-Known Member

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    Wow.

    A couple of thoughts here.....

    First, Spanos said he would never sell the team. Now he is giving up a portion for "estate planning purposes?"

    The estate planning purposes sounds like a ruse or smoke and mirrors to throw fans off the track of the Chargers real intentions.

    Anshutz is looking to buy a team or maybe in this case a portion to make the LA stadium fly. Spanos said earlier he was not interested in selling the team.

    If this deal goes through, the Spanos' kids still retain 60% ownership of the team at 15% each with four Spnoas offspring roaming around.

    Since the housing market is in the toilet, there was speculation the Spanos construction companies were using the Chargers as a cash cow.

    Maybe the burrito king is in more serious financial trouble than we know ?

    At any rate, a sale such as this sends the proverbial red flags up the pole.
     
  7. Trumpet_Man

    Trumpet_Man Well-Known Member

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    And as another poster said, if the Chargers go to LA I am done.

    I will never ever ever root for LA teams being born in San Diego County. LA has always treated San Diego as bastard step children whether in the media or general culture. F-LA.
     
  8. wrbanwal

    wrbanwal Well-Known Member

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    x1,000,000,000

    Time to start shopping for Cheese Head gear :mad:
     
  9. SDRaiderH8er

    SDRaiderH8er Well-Known Member

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    Steelers, that way we can tell those Raider fans we have 6, and on the flip side the Steeler fans dont want us because we have never seen a team win everything, we will give them a kiss of death!
     
  10. SDRaiderH8er

    SDRaiderH8er Well-Known Member

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    the Chollo's up there dont want the Chargers. They wont look good wearing powder blue and yellow!
     
  11. Trumpet_Man

    Trumpet_Man Well-Known Member

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    The chollos down in San Diego roll with the colors. I think LA would adopt the colors as well.
     
  12. turbo_turtle

    turbo_turtle In Disguise

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    If this is a sign that the Chargers are moving to LA then I will become a Fan of the New England Patriots. Go Patriots.
     
  13. CoronaDoug

    CoronaDoug Well-Known Member

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    "He and his wife now own 36 percent of the club, while each of his four children have 15 percent stakes"

    1) This is only 96% where is the other 4?
    2) This is a recipe for disaster. How many of the four kids are "sell-outs"?
     
  14. wrbanwal

    wrbanwal Well-Known Member

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    George Pernicano
     
  15. MadMike

    MadMike Well-Known Member

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    I was born and raised in Azusa, about 25 minutes outside of LA. I live in Corona now. While I will never stop being a Chargers fan, I do not want to see them come up here. It would make them closer to me, hopefully give us more fans up here, but I don't want them. LA fans are the worst. They are come late, leave early, have no real idea who is actually playing on the field, and talk **** for no reason. It would probably start a new round of major gang wars as they fight over who can wear the colors. Just dont want to see them up here. If they come, please let it be to Industry and not downtown by Staples Center. The closer to downtown LA you get the thicker density or morons.
     
  16. CoronaDoug

    CoronaDoug Well-Known Member

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    I have read that he owns 3%. We are missing 1% still.
     
  17. SDRaiderH8er

    SDRaiderH8er Well-Known Member

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    they wear Raider colors, you think they will switch their allegiance
     
  18. Trumpet_Man

    Trumpet_Man Well-Known Member

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    We are missing 1%.

    Could that mystery missing one percent be a tool for sales inducments (the dangling carrot)?

    OR

    Just bad math
     
  19. SDRaiderH8er

    SDRaiderH8er Well-Known Member

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    which is the exact reason when I chant " BEAT LA, BEAT LA" I mean it!
     
  20. SDRaiderH8er

    SDRaiderH8er Well-Known Member

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    you can root for any team you want there, deep down we are still brothers!
     
  21. CoronaDoug

    CoronaDoug Well-Known Member

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    I thought it was bad math on my part. :lol: Had to break out the damn calculator.
     
  22. Trumpet_Man

    Trumpet_Man Well-Known Member

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    I think it opens up the possibilty for gangs to switch and also creates a new breed of scum who uses the teams colors. Anything to be noticed is what I suspect.
     
  23. SDRaiderH8er

    SDRaiderH8er Well-Known Member

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    a gang land leader wearing yellow, that will get him noticed
     
  24. Pointyearedog

    Pointyearedog I only put idiots on ignore...

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    What if ownership was offered to the general public, a la the Cheese Heads?
     
  25. Trumpet_Man

    Trumpet_Man Well-Known Member

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    The kids could be at 15.25% which would account for the missing one percent.

    The bad math could be another intentional ruse to let fans know the team will whore out ownership portions as they see fit. That is their right since the team is privately owned so what does this all mean ?

    I am glad I am not paying full boat just to see the team say FU I'm outta here. Hats off to the fan warriors who will see this team to the end....enshrine them.:bolt:
     
  26. Trumpet_Man

    Trumpet_Man Well-Known Member

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    Think about how you will now be able to bump fists with gang bangers and roll through the cribs of LA without fear....
     
  27. HollywoodLeo

    HollywoodLeo Well-Known Member

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    I've never understood the little brother syndrome a lot of San Diegens have with LA.

    That's not to say I don't disagree that San Diego is better than LA (I've lived in both areas so I know San Diego is definitely better) but I don't get the reasoning behind hating the city. (re: city, not some of the teams that have played there)

    Let me pose this question to some of you: If the Chargers move to LA is the bigger factor the mere fact that they're leaving San Diego? Or is it simply because they're in LA?

    Another way to ask the question would be: Would you still cheer for the Chargers if they moved to San Antonio or Las Vegas?
     
  28. HollywoodLeo

    HollywoodLeo Well-Known Member

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    Boo.

    If they force you to find another team you're really going to bandwagon the Patriots? That's the easy way out.
     
  29. Trumpet_Man

    Trumpet_Man Well-Known Member

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    If the Chargers move out of San Diego County, it is over. Finito. Done. Now I have more time for projects and bonding with all my new cool power tools.
     
  30. Trumpet_Man

    Trumpet_Man Well-Known Member

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    Pernicano and Spanos seem to have had a frosty relationship for as long as I can remember. I wonder how the next 36% owner will be treated by the Spanos clan ? I bet they treat him like dirt just like Pernicano.
     

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