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With her attempt to force the trust to sell the team heading to arbitration, she perhaps can get to the same place if she seizes control of the trust and thus can in her capacity as the sole trustee bundle the 36 percent plus the 15-percent chunk she individually owns and sell controlling interest to someone like Josh Harris, who was ready to bid $5 billion for 100 percent of the Broncos equity. ", The families of Dean, Michael and Alexis Spanos Ruhl have since rebutted Berberian's claims in a statement issued to CBS Sports via Mark Fabiani, special counsel for the Chargers: "It is unfortunate that our sister Dea, who clearly has no interest in continuing to participate in the family's businesses, has resorted to leveling false and provocative charges in an attempt to impose her will on the rest of the family. Most of the debt is money the Chargers loaned the family trust, a common practice because the team can get a lower interest rate. Denver, Tebow was still the event of the day (16/36, 205 yards, 3 sacks, 2 trials, 2 steals, 13 runs, 94 yards, 1 trial). The four siblings are equal beneficiaries of the family trust, according to court documents. Discovery Company. 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,. Faye Papafaklis Spanos (1926-2018) - Find a Grave Memorial They said that, if necessary, they were prepared to buy their sisters stake in the franchise. That may be a blessing in disguise because Denver will have the first pick in the draft next April. The lawyer went on to say that Berberian's three siblings, Dean, Michael and Alexis, have stood firmly in opposing her in the past and that "today's lawsuit will receive the same reaction.". Dea and Dean Spanos, as co-trustees, have a common goal of wanting to be on solid legal ground. Berberian argues that her brothers have pursued a campaign to punish, belittle and humiliate her in retaliation for speaking against their management of the family trust. In the context of very weak AFC West, San Diego has no right to miss the playoffs. Dean Spanos' sister wants him to sell Chargers in messy ownership drama Dean's sister Dea Spanos Berberian filed a lawsuit last week in San Joaquin County Superior Court seeking full control of the Spanos Family Trust, which has a 36 percent stake in the Chargers. 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.". The remaining 4% of the franchise is owned by other parties outside of the Spanos family. The petition was filed by Dea Spanos Berberian, who serves a co-trustee of the family trust with Chargers owner Dean Spanos. No doubt that Tebow had better be ready for next season opposing defensive coordinators will certainly have adjusted their defensive tactics to counter it. The couple raised four children. But Berberian, who runs the family trust with her brother as co-trustee, has been angling for more control inside the franchise since at least last year. Alex Spanos Biography - Facts, Childhood, Family Life & Achievements The lawsuit also lists multiple allegations of "breaches of fiduciary duty" by Dean Spanos, who is accused of diverting $105 million from the trust to various debts. "It is unfortunate that our sister Dea, who clearly has no interest in continuing to participate in the family's businesses, has resorted to leveling false and provocative charges in an attempt to impose her will on the rest of the family," the statement read. He still almost lost two balls. Not until next season after a draft that the Broncos can not afford to squander. Her lawsuit also requests the court suspend and remove Dean Spanos as a co-trustee, accusing both he and brother Michael, the team's vice chairman, of operating "out of their deeply held misogynistic attitudes and sense of entitlement as the men in the family." For some, they have even the most talented team in the NFL. Berberian claims that Dean's decision to relocate the Chargers from San Diego back to Los Angeles in 2017 has put the trust more than $358 million in debt. Nous, Yahoo, faisons partie de la famille de marques Yahoo. All 2010 2007 Prices Profile Reviews Vintages Analytics 1 Price Compact view Set alert Without family, you will be left emotionally empty, no matter how fabulous your accomplishments.. Dea Spanos Berberian, sister of Los Angeles Chargers owner Dean Spanos, is trying to force a sale of the franchise because of the family's current financial state. During the 34 years following the merger, the Chargers went ten times in the playoffs four times and reached the final of the AFC. Spanos-Berberian Winery, LLC Website Get a D&B Hoovers Free Trial Overview Doing Business As:Bell Wine Cellars Company Description:? They added that in no circumstances will this situation impact control of the franchise.. --- Her lawsuit, filed Thursday in San Joaquin County Superior Court, also. But the Chargers are much higher. Spanos Berberian. Spanos Berberian Wine Co 2021 W March Ln Stockton CA 95207. There must be a part of success in the NFL. The filing. He previously spent 20 years as a sports columnist for the Orange County Register and, before that, the Miami Herald. Tim Tebow can not do everything alone. Spanos and Berberian were left as co-trustees of the trust following the deaths of their parents, Alex and Faye, in 2018. A sister of Chargers owner Dean Spanos, Dea Spanos Berberian, has filed a petition in Los Angeles County Court asking a judge to force a sale of the team. Please check the opt-in box to acknowledge that you would like to subscribe. Suddenly, San Diegans have a Spanos to root for. Chargers' owner Dean Spanos is being sued by his sister, Dea Spanos Berberian, for alleged misogynistic behavior and repeated breaches of fiduciary duty, per me and @ByKimberleyA. 8 Attorneys for Dea Spanos Berberian, Co- Trustee of the Alex and Faye Spanos Family 9 Trust, dated January 27, 1998, as amended and restated on June 28, 2007 10 11 SUPERIOR COURT OF THE STATE OF CALIFORNIA 12 COUNTY OF LOS ANGELES 13 14 In re the Case No. In her petition, Spanos Berberian argued mounting debt has imperiled the familys finances and the only solution is to put the NFL franchise on the market. Did you encounter any technical issues? When she saw how much the Broncos went for, she said, I want some of that. Dean and Michael Spanos along with their sister Ruhl released a joint statement Friday, denouncing the actions of Berberian. Information from The Associated Press was used in this report. Meet Dea Spanos Berberian, a sister to Chargers controlling owner Dean Spanos. 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. Regarding the breaches of fiduciary duty, Berberians petition contends that Spanos repeatedly manipulated the trusts financials for his personal gain. Los Angeles Chargers not moving to London, owner angrily tells LA Times, Her lawsuit claims that Dean and Michael Spanos believe to their cores that, regardless of what their parents intended and their wills specified, men are in charge and women should shut up.. Spanos, Berberian and their siblings Michael Spanos and Alexandra Spanos Ruhl each own 15% of the Chargers franchise, with 36% managed by the family trust and the remaining 4% owned by non-family . XFL Week 3 preview: Can AJ McCarron, Battlehawks continue their fourth-quarter heroics? Last year, Dea Spanos Berberian filed a lawsuit seeking a forced sale of the largest available chunk of the L.A. Chargers. Meet the Spanos Clan | America's Finest Sports Forum Meet the Filthy Rich Spanos Clan | San Diego Reader dvelopper et amliorer nos produits et services. What? In this latest filing citing financial statements Berberian says the trusts debts totaled more than $358 million as of Dec. 31. Chargers co-owner asks court to force sale of team due to mounting 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. Jaguars won't spend big, but here are five players they could target in free agency, The most memorable pre-NFL draft workouts ever: Coaches, scouts, execs make their picks, 2023 NFL franchise tag tracker: Raiders tag Josh Jacobs, the NFL's rushing leader. Dean Spanos took over as managing owner of the Chargers in 1994, 10 years after his father bought the franchise. Berberian accuses brothers Dean and Michael of repeatedly 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." I agree to receive the "Pick Six Newsletter" and marketing communications, updates, special offers (including partner offers), and other information from CBS Sports and the Paramount family of companies. The making and sale of fine wine is a pursuit of Dea Spanos Berberian, Alex's first born daughter, secretary of the A.G. Spanos board. Berberian is being represented by Adam Streisand, who also represented Jeanie Buss when she wrested control of the Los Angeles Lakers from her brothers and Steve Ballmer in the trial to force Donald Sterling to sell the LA Clippers. SPORTS ILLUSTRATED is a registered trademark of ABG-SI LLC. With the NFL combine starting Tuesday in Indianapolis, here are five positions the Los Angeles Chargers might focus on during this offseason. Following the deaths of their parents in 2018, Spanos and Berberian were named co-trustees of the trust, which holds a 36% ownership stake in the team, court filings show. Dean Spanos Sued by Sister Amid Legal Battle for Control of Chargers The Spanos family owns 96 percent of the Chargers franchise, and a four percent stake belongs to holdovers from the Eugene Klein ownsership group. That was four years after Alex ceded. Multiple outlets reported the lawsuit claims . As it turns out, Dea Spanos Berberian, one of Dean's younger sisters, is reportedly attempting to force her three siblings to sell their remaining stake in the Los Angeles . I see another great franchise going down in flames due to greed of the already wealthy. Chargers owner Dean Spanos accused of fiduciary mismanagement - Los Apr 1, 2021. Smart girl. Wait a minute. 2:14 pm ET. 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. Just ask Michael Vick what he thinks. Berberian contends that Cohen aided and abetted her brother every step of the way., It will become clear the petition reads, that Dean, Michael and Cohen have pursued a campaign to punish, belittle and humiliate Dea ever since she had the audacity to speak up against their mismanagement., The petition specifically mentions that Cohen deliberately damaged Deas relationship with her Pastor and spiritual advisor, Father Alex Karloutsos., In a statement released Friday, Alexis Spanos Ruhl said: The statements made in todays court filing about my brother Dean Spanos are outrageously untrue. Sorry for my poor english translation. To characterize Dean as somehow being less than fully respectful of the women in our family is just not right.". John oversees the teams football operations and A.G. heads the business side. 2004-2023 CBS Interactive. 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. Alex Spanos bought the San Diego Chargers in 1984, and Dean Spanos took over managing the franchise in 1994. This week, Berberian also agreed to allow the NFL to arbitrate a settlement in the case.