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									&quot;Around The Cloud&quot; - StormCloud Forum				            </title>
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                        <title>Tom Gores officially buys 27% stake in the Chargers</title>
                        <link>https://stormcloud.blog/community/around-the-cloud/tom-gores-officially-buys-27-stake-in-the-chargers/</link>
                        <pubDate>Wed, 16 Oct 2024 22:57:13 +0000</pubDate>
                        <description><![CDATA[Michael Ozanian of CNBC sports reported Wednesday afternoon that Tom Gores is officially a limited partner of the Chargers ownership group. He has purchased Dea Spanos Berberian&#039;s 24% of the...]]></description>
                        <content:encoded><![CDATA[<p>Michael Ozanian of CNBC sports reported Wednesday afternoon that <a href="https://www.cnbc.com/2024/10/16/tom-gores-buys-la-chargers-stake-for-750-million-.html" target="_blank" rel="noopener">Tom Gores is officially a limited partner of the Chargers ownership group</a>. He has purchased Dea Spanos Berberian's 24% of the team, as well as a percentage from each of Dean, Alexis, and Michael Spanos. </p>
<p>An outsider to the family has never had this much ownership in the Chargers since Alex Spanos bought the team in 1984 for $72 million. </p>
<p>Had this move been made a year ago, many of us would have probably loved the idea of some positive change coming from the influence of a new owner. But in all honesty... the Spanos family <em>has </em>been acting like a new ownership group since last January. Even as a fan that has been very critical of their decision making, management style, and frugality, I've got to give credit where it's due.</p>
<p>It's worth noting that Gores <em>and</em> his private equity firm Platinum Equity bought his NBA team, the Detroit Pistons, in 2011 before he bought Platinum Equity's stake to retain sole ownership himself. </p>
<p>It will be interesting to see if Gores attempts to snag a greater ownership percentage in future years. He currently has no path to control of the team, but according to <a href="https://www.cbssports.com/nfl/news/nfl-reportedly-already-concerned-that-chargers-might-fail-in-los-angeles/" target="_blank" rel="noopener">Michael Fabiani</a>, the flip tax will be down to 10% as of 2025 and will reduce by 1% for each subsequent year. By 2035, the Spanos family could share as much of their stakes as they wish without having to pay a punitive tax to the league. <span></span></p>
<p>That's definitely something to keep an eye on!</p>]]></content:encoded>
						                            <category domain="https://stormcloud.blog/community/around-the-cloud/">&quot;Around The Cloud&quot;</category>                        <dc:creator>Kyle DeDiminicantanio</dc:creator>
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