CNN Sans & 2016 Cable News Network. The petition asks the court to order Berberian and Spanos to take steps to sell the trusts share of the Chargers and invoke a provision of trust law that would require the teams other shareholders to do the same. As first reported by ESPN's Adam Schefter and Kimberley Martin, Dea Spanos Berberian's attorneys filed the lawsuit this week in San Joaquin County Superior Court in California. Berberian is reportedly seeking sole control of a family trust that accounts for more than one third of Chargers ownership. They have four adult children: Dean Spanos, the Chargers' team president; Michael Spanos, the Chargers' executive vice president; Alexis Spanos Ruhl, a vice President of A.G. Spanos Companies; and Dea Spanos Berberian, a vice President of A.G. Spanos Companies. Berberian filed a lawsuit looking to gain full control of the Spanos family trust, which would remove Spanos as co-trustee, along with financial damages. No doubt that Tebow had better be ready for next season opposing defensive coordinators will certainly have adjusted their defensive tactics to counter it. She is represented by Adam Streisand, the same attorney who helped Jeanie Buss take control of the Los Angeles Lakers in the NBA. You may occasionally receive promotional content from the Los Angeles Times. And if Dea intends to sell her share of the team, they have the right to buy it under their right of refusal and they will do so. Alexis Spanos Ruhl BOARD MEMBER Alexis serves as a company liaison to local non-profit agencies. The filing also calls for the removal of her brother as a co-trustee and seeks unspecified damages. Berberian is represented by Adam Streisand, who represented Jeanie Buss in her fight to gain control of the Lakers from her brothers, and Steve Ballmer in the proceeding that forced Donald Sterling to sell the Clippers. He also has support from other family members and beneficiaries (though not all).. Already looking forward to the 2023 NFL Draft? Berberian, co-owner of The Spanos Corporation since 1994, serves as its executive vice president, director and secretary. Alexander Gus Spanos (September 28, 1923 - October 9, 2018) is an American real estate developer and self-made billionaire of Greek origin who is the majority owner of the NFL's Los Angeles Chargers, who also founded the A.G. Spanos Companies. According to the petition, the trust had debts and expenses of $353 million as of Sept. 30. The Spanos family owns 96 percent of the Chargers franchise, and a four percent stake belongs to holdovers from the Eugene Klein ownsership group. Faye Spanos: A wonderful person, a wonderful life, Whos who of civic, sports leaders bid farewell to Alex Spanos, Your California Privacy Rights / Privacy Policy. A lawyer familiar with the matter told ESPN that Berberian's motive for filing the suit is to embarrass Spanos publicly. Published All Rights Reserved. Its just mystifying as to what her strategy is, Fabiani added, since the right of first refusal always rules in situations such as this.. Si vous souhaitez personnaliser vos choix, cliquez sur Grer les paramtres de confidentialit. The remaining 4% of the franchise is owned by other parties outside of the Spanos family. Alexis Spanos Ruhl also released an additional statement defending Dean. LOS ANGELES Los Angeles Chargers controlling owner Dean Spanos has been accused of repeated breaches of fiduciary duty and misogynistic behavior in a lawsuit filed by his sister. Los Angeles Chargers owner Dean Spanos is being sued by his sister Dea Spanos Berberian. Dean and Michael Spanos and another sibling, Alexis Spanos Ruhl, have engaged in a public quarrel with Berberian. As proof, it took the Chargers to make a record of 8-8 last year to win their division, when New England, with 11 victories, has not even played in the playoffs Californians are still likely to dominate their three rivals this season. Dea Spanos Berberian . The suit also asks the court to suspend and remove Spanos as a co-trustee and seeks unspecified financial damages awarded to Berberian. Spanos also allegedly manipulated the trust to borrow over $60 million "for the wasteful purchase of an airplane for Dean's and Michael's use that has no legitimate business justification.". That may be a blessing in disguise because Denver will have the first pick in the draft next April. In June 2002, Dea's husband Ron, from a wealthy Stockton family, announced he and Alex Spanos were buying the Bell Wine Cellars, an ultra-premium Napa Valley winery run by Anthony Bell that has since made . Alex Spanos bought the San Diego Chargers in 1984, and Dean Spanos took over managing the franchise in 1994. Dea and Dean Spanos, as co-trustees, have a common goal of wanting to be on solid legal ground. appreciated. Nearly half of that ($164,778,931) is . Nearly four decades ago, the family patriarch, Alex Spanos, purchased a majority interest in the San Diego Chargers for $40 million. A legal filing by Dea Spanos Berberian seeking to force the sale of the Chargers cites $353 million in family trust debt. To characterize Dean as somehow being less than fully respectful of the women in our family is just not right.. Berberian is trying to make the case that Dean has put the family trust in such deep . Suddenly, San Diegans have a Spanos to root for. Recipients? He is the son of Alex Spanos, who purchased majority interest in the team in 1984. In this desert, where three teams are rebuilding (Oakland, Denver and Kansas City), San Diego, this opens a boulevard. The petition by Dea Spanos Berberian, who serves as co-trustee of the family trust along with her brother, alleges the trust's debts and expenses exceed $353 million. All rights reserved. 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 . 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. Philip Rivers, the wand is constantly growing. 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. Dean and Michael Spanos along with their sister Ruhl released a joint statement Friday, denouncing the actions of Berberian. Berberian contends the situation is too dire to wait. All 2010 2007 Prices Profile Reviews Vintages Analytics 1 Price Compact view Set alert Suddenly, San Diegans have a Spanos to root for. The current political climate may be creating a potential for tax and legal exposure to the Spanos family trustees, absent a sale, that its caretakers would do well to consider. 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. What a crock. Dea Spanos Berberian says the reckless spending by her brother Dean, the team's controlling owner, has resulted in $353 million in debt for the family trust The budget shortfall is so bad,. "Many people say that, but it made us more harm than good to hear," coach Norv Turner tempers. The venture acquired interest in the brand name and assets of Bell Wine Cellars, and a new partnership was formed with . Los Angeles Chargers controlling owner Dean Spanos has already earned one victory this summer by getting his legal dispute with his sister, Dea Spanos Berberian, moved out of Los Angeles. These owners are the reason why they are no longer the San Diego Chargers. To characterize Dean as somehow being less than fully respectful of the women in our family is just not right.". U-T draft analyst Eddie Brown has the Chicago Bears considering a trade, Privacy PolicyTerms of ServiceSign Up For Our NewslettersSite Map, Copyright 2023, The San Diego Union-Tribune |. (In San Diego arose the old football chant, spelled with a twist: Dea-Fence Dea-Fence!). The NFL intervened and asked to arbitrate the matter since it was a dispute among NFL owners, a source familiar with the case told CNN. Thursday in a Los Angeles court, Deas lawyer made a bid to force the sale of the Chargers. owner of the San Diego Chargers, formed Spanos Berberian Winery, LLC. Turn on desktop notifications for breaking stories about interest? All Rights Reserved. Vertalingen van het woord BERBERIAN van engels naar nederlands en voorbeelden van het gebruik van "BERBERIAN" in een zin met hun vertalingen: .from the legendary mezzosoprano Cathy Berberian .. Smart girl. The sister of Los Angeles Chargers controlling owner Dean Spanos is petitioning a California court to put one-third of the team's ownership stake up for sale. In an attempt to force the sale of the Chargers, a sister of controlling owner Dean Spanos filed a petition in Los Angeles County Superior Court on Thursday arguing that mounting debt has imperiled the familys finances and the only solution is to put the NFL franchise on the market. 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I love how the rich have a dead ear to how ridiculous and entitled they sound, and are! Dean refuses to consider a sale of the Trusts Interest of the Chargers, insisting that the Co-Trustees continue to borrow more and more, and to force the charities and beneficiaries to wait for years and to hope while Dean speculates further on a football team, the petition said. Dean Spanos, who owns 15% of the Los Angeles Chargers, is feeling pressure from his sister, Dea Spanos Berberian, to sell the Spanos family trust share of the franchise, which is reportedly in debt. Berberian, the sister of the Chargers' owner . San Diego is now one of the better off. In the suit, Berberian also accuses both her brothers, Dean and Michael Spanos, of acting out of their deeply-held misogynistic attitudes and sense of entitlement as the men in the family and to rationalize their pitiable behavior which she believes is intended to teach her that a woman has no rights, no matter what any trust instrument might say., She also claimed her brothers believe regardless of what their parents intended and their wills specified, men are in charge and women should shut up..
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