[et_pb_section admin_label=”section”]
[et_pb_row admin_label=”row”]
[et_pb_column type=”4_4″][et_pb_text admin_label=”Text”]
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's 24% of the team, as well as a percentage from each of Dean, Alexis, and Michael Spanos.
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.
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 has 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.
It's worth noting that Gores and 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.
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 Michael Fabiani, 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.
That's definitely something to keep an eye on!
Hey everyone, this is a new way I am trying to organize posting Topics based on outside writing/articles. Anytime an article you see elsewhere catches your attention, hit the "add topic" button next to "Charger Chats," and drop it in the "Around the Cloud" Forum.
Link the article for our readers to give it a look, and give us your quick take to start the conversation. It's a great way for our community to help drive discussion on our board
[/et_pb_row]
[/et_pb_section]
