Bolting To LA? Chargers Put Minority Share Of Team For Sale
SAN DIEGO (AP) – An attorney says San Diego Chargers owner Alex Spanos is looking to sell a minority stake to help with estate planning.
Mark Fabiani, who has led the Chargers’ push for a new stadium, says the percentage to be sold will be determined by negotiations with a potential buyer.
Spanos and his wife, Faye, own 36 percent.
Their four children each own 15 percent. Two minority owners own the other 4 percent.
Fabiani says the Spanos family will continue to hold a controlling majority stake in the team.
Fabiani says the sale of the minority share has nothing to do with stadium efforts.
The Chargers have long been rumored as a possible tenant if a new stadium is built in Los Angeles.
The sale was first reported by FanHouse.com.
(Copyright 2010 by The Associated Press. All Rights Reserved.)