The sister of Los Angeles Chargers chairman Dean Spanos is trying force the sale of the team because of mounting debt and said team ownership can’t afford to keep borrowing money while Spanos speculates further on a football team, according to a petition filed in court Thursday.
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. Each sibling owns an additional 15% of the franchise, giving the family nearly 100% ownership.
The petition said the trust’s debts and expenses exceed $353 million and that the trust has “virtually no income and no liquidity.” It also said the trust is liable for over $22 million pledged to charities.
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