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The lawsuit was filed Thursday in San Joaquin County Superior Court by attorneys representing Dea Spanos Berberian, who is seeking sole control of a family trust that constitutes more than one-third of the Chargers' ownership. He also has support from other family members and beneficiaries (though not all).. His sons have key roles, too. The petition by Dea Spanos Berberian, who serves as co-trustee of the family trust along with her brother, alleges the trusts debts and expenses exceed $353 million. She also is in charge of community relations. Berberian, the sister of the Chargers' owner . Her three siblings are not thrilled with the situation. 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. It is unfortunate that our sister Dea, who clearly has no interest in continuing to participate in the familys business, has resorted to false and provocative charges in an attempt to impose her will on the rest of the family, the families of Alexis Spanos Ruhl, Michael Spanos, and Dean Spanos said in a joint statement, via Gilbert Manzano of the Los Angeles Daily News. The petition was filed by Dea Spanos Berberian, who serves a co-trustee of the family trust with Chargers owner Dean Spanos. 2:14 pm ET. Its just mystifying as to what her strategy is, Fabiani added, since the right of first refusal always rules in situations such as this.. All rights reserved. CBS Sports is a registered trademark of CBS Broadcasting Inc. Commissioner.com is a registered trademark of CBS Interactive Inc. site: media | arena: nfl | pageType: stories | 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. 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. Berberian, co-owner of The Spanos Corporation since 1994, serves as its executive vice president, director and secretary. Faye and Alex Spanos married in 1948 and would have marked their 70th wedding anniversary on Aug. 21. 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. The club began playing in 1960 as a member of the AFL (American Football League), under the name "Los Angeles Chargers. Lawsuit was filed today in California and calls for Dean Spanos to be removed as a co-trustee. Lorsque vous utilisez nos sites et applications, nous utilisons des, authentifier les utilisateurs, appliquer des mesures de scurit, empcher les spams et les abus; et. Voluntary arbitration is legal in employment contracts. Turn on desktop notifications for breaking stories about interest? If Dea no longer wishes to be part of this family legacy, the three of us stand ready to purchase her share of the franchise, as our agreements give us the right to do, they stated. Brightening the teams financial outlook for 2021, coming off a season in which all NFL clubs saw stadium-related revenues fall off sharply because of the pandemic, NFL Commissioner Roger Goodell said he expects capacity crowds to be allowed at NFL games next season. Last year, Berberian filed a lawsuit attempting to force the sale of the family trust, including its stake in the Chargers franchise. 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. Dea Spanos Berberian SECRETARY OF THE BOARD Dea is also Executive Vice President of the A. G. Spanos Companies and in charge of community relations. Among other accusations of the lawsuit include using $105 million of the trust to pay off debts and another $60 million to buy a plane with no connection to the business. Berberian contends that the Spanos family trust and subtrusts are all but insolvent, that Spanos' decision to move the Chargers to Los Angeles has proved financially ruinous and that the family has no option but to sell the team to satisfy the trust's debt obligations, which she says are currently in excess of $358 million. Los Angeles Chargers owner and chairman Dean Spanos is being sued by his sister and team co-owner Dea Spanos Berberian, whos accusing him of misogynistic behavior and repeated breaches of fiduciary duty in his role as controlling owner of the NFL franchise. Her siblings say they love owning the football team. Just ask Michael Vick what he thinks. Jesus, who are these people?! Ron is husband of Dea Berberian (daughter of Alexander Spanos - real estate developer, owns the San Diego Chargers) Sorry for my poor english translation. It is not ca. Dea Spanos Berberian filed a petition Thursday in Los Angeles County Superior Court contending that mounting debt from the franchise is creating an estimated yearly loss of at least $11 million for the family trust. "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. Meet Dea Spanos Berberian, a sister to Chargers controlling owner Dean Spanos. Alexis Spanos Ruhl also released an additional statement defending Dean. Spanos-Berberian Wine Company, LLC in Stockton, CA . 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. mesurer votre utilisation de nos sites et applications. 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. What a crock. Meanwhile the Chargers (9-7), whose season was marked by inconsistency and injuries, did well. Recipients? Dean has failed to present any plan to address the Trusts bleak financial picture, because there is no other plan than the one urged by [Berberian]. In addition, according. 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. His sister has petitioned in an existing probate case to remove him as co-trustee of the team. 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 . Alexis Spanos Ruhl also released an additional statement defending Dean. Dean will likely contend that if he is only allowed to use his position as a Co-Trustee to be a speculator to double and triple down on bad decisions of the past, he can turn things around because there are positive developments at the NFL level that should benefit the Chargers as well, the petition said. Menu & Reservations Make Reservations . A trust established by the late Alex and Faye Spanos, the family patriarch and matriarch, who both died in 2018, accounts for 36 percent of ownership effectively giving each of their children another nine percent ownership share. The nephews claim that Dean Spanos, with the aid of Michael, altered the trust in February 2018 to divert money to themselves personally.. Neither Berberian nor Streisand responded to ESPN's requests for comment. Follow Receive an email notification when changes occur for Dea Spanos Berberian,. They said that, if necessary, they were prepared to buy their sisters stake in the franchise. Dea Spanos Berberian filed the petition and is one of four Spanos siblings who control the Spanos Family Trust, which in turn owns 36% of the franchise. Focus Wednesday on the AFC West division by far the lowest in the American Conference. Meet Dea Spanos Berberian, a sister to Chargers controlling owner Dean Spanos. Disputed loan at center of Commanders probe. Regarding the breaches of fiduciary duty, Berberians petition contends that Spanos repeatedly manipulated the trusts financials for his personal gain. Every story about NFL owners is like reading a comic book. Ask the Browns and Commanders fans. As it relates to capital gains tax on inherited assets, another potential change would be significantly costly. at And that ultimately may be why this lawsuit was filed. 2004-2023 CBS Interactive. 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 .. Provided it is not disturbed by problems outside the sport, since he is suspected of beating his girlfriend. Thursday in a Los Angeles court, Dea's lawyer made a bid to force . In this latest filing citing financial statements Berberian says the trusts debts totaled more than $358 million as of Dec. 31. For more Los Angeles Chargers coverage, go toCharger Report. The petition paints a bleak picture of its finances, estimating an annual shortfall of $11 million with little cash flow or reason to believe the numbers will improve. The Chargers have emerged 33-28. The families of Dean Spanos, Alexis Spanos Ruhl and Michael Spanos released a statement later Friday reaffirming their unity. Throughout this entire ordeal that was instigated without justification by my sister Dea Berberian, my brother Dean has been unfailingly respectful of me and of my wishes. "The statements made in today's court filing about my brother Dean Spanos are outrageously untrue," the statement read. The Carolina Panthers on Friday announced they had hired Thomas Brown, the Rams assistant head coach last season, as their offensive coordinator. 1 draft pick, Spanos family calls Dea Spanos Berberians allegations false and provocative, Report: Derek Carr wants $35 million per year, The Raiders are the betting favorites to land Aaron Rodgers, Mike McCarthy: Kellen Moore wants to light the scoreboard up, I want to run the damn ball, Arrest warrant issued for Jalen Carter for reckless driving, racing, ESPN reiterates report that Lamar Jackson wants a fully-guaranteed deal, Aaron Rodgers says hell make a decision soon enough, Competition Committee begins to explore the quarterback push play, Players say Chiefs discourage them from reporting injuries, have NFLs worst training staff, Bryce Young is just over 5-10 and 204 pounds. Smith runs second-fastest 40 by DL since 03, Saleh compares Carr to Stafford pre-Rams trade, Allen to be ready to roll for offseason program, How to maximize leverage of No. Reviews (209) 473-6827. CNN Los Angeles Chargers owner and chairman Dean Spanos is being sued by his sister and team co-owner Dea Spanos Berberian, who's accusing him of "misogynistic" behavior and repeated. Your effort and contribution in providing this feedback is much Suddenly, San Diegans have a Spanos to root for. . breach of fiduciary duty and surcharge against dean spanos; 2. suspension and removal of dean spanos as co-trustee; 3. aiding and abetting breaches of fiduciary duty against michael spanos and steven cohen; 4. disqualification of michael spanos as successor co-trustee; and 5. an order instructing dea to refuse to agree to letters of intent. Please check the opt-in box to acknowledge that you would like to subscribe. 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 |. --- 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. The new lawsuit, which focuses on ousting Dean Spanos as a co-trustee, presumably was drafted to navigate any potential arbitration obligation. Alex Spanos bought the San Diego Chargers in 1984, and Dean Spanos took over managing the franchise in 1994. Dean Spanos has controlled the teams day-to-day management since 1994. One proposed change would be a drop in the estate-tax exemption to $3.5 million from $11.7 million. 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,. Berberian is trying to make the case that Dean has put the family trust in such deep . Before the Chargers moved to L.A. the relocation led one columnist to brand Dean Spanos as the most hated man in San Diego he kept a copy of his fathers autobiography in his office. ", Alexis, Dean's other sister, has also pushed back against Berberian's allegations: "The statements made in today's court filing about my brother Dean Spanos are outrageously untrue," she wrote. Register now! It remains a remarkable campaign and has become one of the best quarterbacks in the league. The claims include a charge that Spanos borrowed in excess of $60 million for the wasteful purchase of an airplane for Deans and Michaels use that has no legitimate business justification.. I can only refer you to the statement made by the three siblings that they have no intention of selling the team, said Chargers special counsel Mark Fabiani, when asked Thursday if the petition could result in the team being sold. 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. Dea Spanos Berberian filed the suit Thursday in San Joaquin County Superior Court, as ESPN reported, seeking sole control of the Spanos Family Trust that constitutes more than one-third of. You must be logged in to leave a comment. 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. But the Chargers are much higher. The arrival of a new coordinator, Ron Rivera, in the middle of last season, has restored a bit of punch to this solid squad, both against the run than against the pass. The couple raised four children. The families of Dean Spanos, Alexis Spanos Ruhl and Michael Spanos released a statement later Friday reaffirming their unity. All Rights Reserved. The three of us and our children, representing more than 75% of the family and its ownership of its businesses, stand united in support of our parents and grandparents wishes, including as to the continued ownership and operation of the Chargers., In a separate statement, Ruhl said her brother Dean has been unfailingly respectful of me and of my wishes.. 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. 2. This week, Berberian also agreed to allow the NFL to arbitrate a settlement in the case. They are the sons of one of Spanos' sisters, Dea Spanos Berberian. Spanos and Berberian were left as co-trustees of the trust following the deaths of their parents, Alex and Faye, in 2018. The NFL has held off intervening . They now have an emerging superstar at quarterback in Justin Herbert and share the $5-billion SoFi Stadium with the Rams. -> Created for Dea Berberian, Ron Berberian. -> Site for Ron Berberian, Dea Berberian. Dea Spanos Berberian filed the suit Thursday in San Joaquin County Superior Court, as ESPN reported, seeking sole control of the Spanos Family Trust that constitutes more than one-third of the Chargers' ownership. 24/7 coverage of breaking news and live events. 1:57 AM EDT, Sat June 11, 2022, Dean Spanos, seen here in 2021, is being sued by his sister who co-owns the Chargers franchise, CARSON, CA - NOVEMBER 03: Philip Rivers #17 of the Los Angeles Chargers passes the ball in the first half against the Green Bay Packers at Dignity Health Sports Park on November 3, 2019 in Carson, California. To characterize Dean as somehow being less than fully respectful of the women in our family is just not right.". 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. That included mediation with a retired L.A. County Superior Court judge that didnt work. All 2010 2007 Prices Profile Reviews Vintages Analytics 1 Price Compact view Set alert Dean Spanos took over as managing owner of the Chargers in 1994, 10 years after his father bought the franchise. If there is a significant tax risk on the horizon, an issue the L.A. judge and the Spanos family lawyers may have to sort out is whether waiting to sell the team is a violation of fiduciary responsibility. Chargers chairman Dean Spanos has been sued by two of his nephews who allege that he secretly diverted money from the family trust that owns 36% of the team. These owners are the reason why they are no longer the San Diego Chargers. For his part, her brother Dean, who manages the operations of the team, argues that their parents . Unfortunately, our sister Dea seems to have a different and misguided personal agenda., They said operations of the Chargers will be entirely unaffected by this matter.. 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 members. 15 Alex and Faye Spanos Family Trust, PETITION FOR ORDERS Alex G. Spanos Founder, 1923 - 2018 Dea Spanos Berberian has filed another lawsuit aimed at wresting control of the NFL franchise the family owns. The lawsuit was filed Thursday in San Joaquin County Superior Court by attorneys representing Dea Spanos Berberian, who is seeking sole control of a family trust that constitutes more than one-third of the Chargers' ownership. sadly, The Chargers are like the Commanders, I want to root for the team but their ownerships are too awful to root for. Dimitri and Lex Economou filed their suit this week in San Joaquin County. Information from The Associated Press was used in this report. . The family trust controls 36% of the team with the remainder owned by nonfamily members. That was four years after Alex ceded. Changes to the tax code being considered by President Joe Bidens administration could have a huge effect on wealthy individuals and families in the U.S., writes Barrons Abby Schultz. 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. The petition was filed in San Joaquin County Superior Court by attorneys representing Dea Spanos Berberian, who seeks control of a family trust that makes up 36% of the Chargers ownership. In a November 2019 letter included with the court filing, Dean Spanos vowed to his three siblings that he would retain an investment bank at the end of the 2024 season in an effort to find a new owner. 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. She is represented by Adam Streisand, the same attorney who helped Jeanie Buss take control of the Los Angeles Lakers in the NBA. However, the potential on this front could explain the timing of Spanos Berberians legal push to have the team sold. Its sad they they will tarnish all the wealth that was handed to them since birth. Dea Spanos Berberian . Tim Tebow can not do everything alone. Key Principal:Ronald Berberian See more contacts Industry:Wines Printer Friendly View 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. 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. Early life and education [ edit] The continued battle for majority control of the Los Angeles Chargers has taken a new turn after co-owner Dea Spanos Berberian filed a lawsuit against her co-owner brothers Michael and Dean Spanos . Dean Alexander Spanos (born May 26, 1950) is the chairman and owner of the National Football League (NFL)'s San Diego / Los Angeles Chargers franchise. Dea Spanos Berberian filed a petition Thursday in Los Angeles County Superior Court contending that mounting debt from the franchise is creating an estimated yearly loss of at least $11 million . The stake in the Chargers makes up 83% of the trusts holdings. During the 34 years following the merger, the Chargers went ten times in the playoffs four times and reached the final of the AFC. --- Tom Eddy Wines Spanos-Berberian Vineyard Cabernet Sauvignon Napa Valley, USA Avg Price (ex-tax) $ 452 / 750ml Red - Bold and Structured 3 from 1 User Rating 89 / 100 from 2 Critic Reviews Only a couple of critics have rated this Napa Valley wine so far. It underscored the importance that family played in his decisions. 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.

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