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Fate of Chargers' ownership at stake as Dean Spanos' sister asks court to force sale


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On 4/1/2021 at 7:15 PM, BroncoSojia said:

Man that's terrible. Imagine being a fan of a franchise that has siblings fighting over its ownership. Couldn't be me.

Sadly, when Arthur Blank dies, I think I'm gonna be seeing that happen. Even though his family foundation officially owns the franchise, it's weird to think that without Uncle Arthur owning it, the situation may change. 

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On 4/2/2021 at 3:57 PM, massraider said:

How is the estate 350 mill in debt?  Is that from the 650 mill relocation fee?

The relocation  fees for Raiders, Chargers, Rams have terms spreading the payment out over 10 years, this was part of the original approval of those moves
Spanos also spent a big chunk trying to get something done in San Diego and that includes tens of millions on consultants, architects and the ballot measures.
He's also had to spend heavily on marketing in LA, hiring firms to help sell PSLs, rent for the practice facility, paying for new offices in LA + relocation costs for his employees.

So Spanos was bleeding cash in both San Diego and LA and he got double-whammied by playing in a tiny stadium in Carson in 2019, followed by the 2020 pandemic crush on his revenue stream. Just a perfect storm of financial challenges, for a financially challenged owner.

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18 hours ago, Shanedorf said:

The relocation  fees for Raiders, Chargers, Rams have terms spreading the payment out over 10 years, this was part of the original approval of those moves
Spanos also spent a big chunk trying to get something done in San Diego and that includes tens of millions on consultants, architects and the ballot measures.
He's also had to spend heavily on marketing in LA, hiring firms to help sell PSLs, rent for the practice facility, paying for new offices in LA + relocation costs for his employees.

So Spanos was bleeding cash in both San Diego and LA and he got double-whammied by playing in a tiny stadium in Carson in 2019, followed by the 2020 pandemic crush on his revenue stream. Just a perfect storm of financial challenges, for a financially challenged owner.

The Raiders and Chargers got waivers to spread the location fee over 30 years instead of 10. And some of the cost is offset by them each getting each other’s relocation fee.

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On 4/3/2021 at 8:13 PM, Xenos said:

It’s hidden behind a paywall. I’m not getting excited. Dean always has the money for the most important thing. Lawyers. 
 

Bottom line, the foundation was set up but AG and had certain pledges in place. The Chargers organization was supposed to make enough money to honor those pledged. AG was a really good dude. Dean though has not been a good dude, or business owner and hasn’t been able to continue honoring those pledges. 

Edited by Leoric
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4 hours ago, Chiefer said:

San Diego and it’s citizens were really hoping he’d ruin himself on this relocation.

I think people in general tend to overestimate the importance of multi-million dollar deals on the ultra-rich of this world. 

We're not talking about pocket money, but Dean has money to spend over half a dozen lives. 

And yes, he's not on Kroenke level of money and influence, but people keep acting like the NFL is looking to get rid of him, when in fact, they have backed him up extensively over the years. 

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2 hours ago, kramxel said:

I think people in general tend to overestimate the importance of multi-million dollar deals on the ultra-rich of this world. 

We're not talking about pocket money, but Dean has money to spend over half a dozen lives. 

And yes, he's not on Kroenke level of money and influence, but people keep acting like the NFL is looking to get rid of him, when in fact, they have backed him up extensively over the years. 

They backed the Spanos family so long as they got them a new stadium...which meant mo money for the league. But Spanos didn't want to write the check and needed a lot of public money to make it happen ( which was more typical back then)
When Tagliabue was in San Diego after the Raiders-Bucs Super Bowl, he dropped the bomb - even saying " I'm surprised we're even here"
 

"Just over 17 years ago, a task force presented its report to the San Diego City Council on what to do about the Chargers and the aging Qualcomm Stadium in Mission Valley. The city had just hosted the Super Bowl. And even though the stadium had been remodeled six years before — a project we are still paying off — then-NFL Commissioner Paul Tagliabue made clear at the event that the NFL would never return its glitzy annual party to the city unless we built a new stadium.

Tagliabue’s pronouncement was devastating to the city’s elite, who had just luxuriated in the pomp and publicity of the successful showcase. Looking back, the Super Bowl in 2003 was a climax — the end of a chapter of San Diego marked by exuberance and pride. Soon the city and stadium would descend into scandal, political chaos and financial ruin."

 

 

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On 4/7/2021 at 3:40 PM, Leoric said:

It’s hidden behind a paywall. I’m not getting excited. Dean always has the money for the most important thing. Lawyers. 
 

Bottom line, the foundation was set up but AG and had certain pledges in place. The Chargers organization was supposed to make enough money to honor those pledged. AG was a really good dude. Dean though has not been a good dude, or business owner and hasn’t been able to continue honoring those pledges. 

I think you remember AG more fondly than you should. He was quite meddling and Dean actually had to be the peacemaker between him and Bobby Beathard.

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2 minutes ago, Xenos said:

I think you remember AG more fondly than you should. He was quite meddling and Dean actually had to be the peacemaker between him and Bobby Beathard.

That’s probably fair. 

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19 hours ago, kramxel said:

I think people in general tend to overestimate the importance of multi-million dollar deals on the ultra-rich of this world. 

We're not talking about pocket money, but Dean has money to spend over half a dozen lives. 

And yes, he's not on Kroenke level of money and influence, but people keep acting like the NFL is looking to get rid of him, when in fact, they have backed him up extensively over the years. 

I never said the NFL, I was talking about SD and it’s fans. I grew up down in that area I know a lot of salty fans(whom are no longer fans)

he’s a spoiled brat who grew up on Daddy’s money and hasn’t really faced to many consequences. It’s a classic story, would be a great ending if he lost the team over the relocation 

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