Dea Spanos vs. Dean Spanos

[Boltdiehard]

I’d love to know how the family trust went $353 million in the red. Borrowing from new banks to pay off the old banks works until it doesn’t.

A regional bank here just stopped issuing new HELOCs and what happens when credit suddenly tightens?

[Topcat]

But wait! There's MORE! A Spani Statement on Dea, the Misguided Sister:

spani statement.JPG
https://www.chargers.com/news/statem...nd-dean-spanos

[captaind]

"Dean vowed to try and find new owners in 2024"

It'll drag out in court that long anyways. This whole thing sounds personal if you ask me. An attempt to publicly embarrass Dean.

Although he seems to do a good enough job of that without anyone else's help.

Is there a downside? We're three years away, worst case scenario. Start the countdown.

:demonkid:

[jamrock]

She is stupid. A forced sale in the public is a fire sale.

Not with a unique and scarce asset

[jamrock]

The information I've been told is that due to the pandemic, values are likely closer to 2018 Forbes values, which would be roughly $2.27 billion. The salary cap dropped due to the pandemic, which I think reflects the general view of franchise value. Unlikely over the last year there has been any increase in value. Still, Popper, as a journalist, merely had to look at 2020 Forbes and realize he was likely a cool $500 million off of his "estimate."

Still, Popper's analysis mistakes the ability to stay afloat with economic vitality and long term viability.

What my analysis failed to mention too was the relocation fee of $645 million. If the Spanos family has $645 million debt to the NFL, an additional $350 million of accrued debt, there is a debt of $1 billion right now. Thus the return, even from a $2.6 billion 2020 Forbes value is $1.6 billion. Every month, every year, that gets less. Assuming Forbes values are correct and the Chargers were valued at $2.0 billion upon leaving San Diego, the family's return after this LA gamble has decreased by $400 million and that debt only increases with time.

If you are Dea and see a long, slow car crash coming, wouldn't the prudent thing to be to sell your shares? Yes, it would. But Dean and the others can't, despite their "statement" today. Dean doesn't have cash on hand or he would have bought Dea out already. Hell, he wouldn't have incurred the current debt. I think Dea also recognizes for Dean and the other to buy her out, more debt will be incurred and thus her parents' investment merely incurs more debt and thus more harm for the family's values.

As I noted, Dea did this for the public shock and outrage; not that she will be legally successful. If you are the NFL owners, aren't you pushing Spanos to sell, with the above debt known? It would not surprise me. That doesn't mean the Chargers will return to San Diego. But it would not surprise me to see the team sold.

Just underscores what those who have followed the team already knew. Spanos is among the poorest of NFL owners. The debt incurred by moving to LA was a relocation fee of $650 million and. G4 loan of $200m. I don’t know if the G4 is part of the $353m debt cited above but at a certain point other NFL owners, who are the beneficiaries of that debt, may start asking Dean some tough questions.

I’m not familiar with the ins and outs of Trust and Eatates law but she hired a guy who got the Clippers from Stirling and protected Jeanie Buss in the flip side of this scenario. She’s coming for her money

[Xenos]

The information I've been told is that due to the pandemic, values are likely closer to 2018 Forbes values, which would be roughly $2.27 billion. The salary cap dropped due to the pandemic, which I think reflects the general view of franchise value. Unlikely over the last year there has been any increase in value. Still, Popper, as a journalist, merely had to look at 2020 Forbes and realize he was likely a cool $500 million off of his "estimate."

Still, Popper's analysis mistakes the ability to stay afloat with economic vitality and long term viability.

What my analysis failed to mention too was the relocation fee of $645 million. If the Spanos family has $645 million debt to the NFL, an additional $350 million of accrued debt, there is a debt of $1 billion right now. Thus the return, even from a $2.6 billion 2020 Forbes value is $1.6 billion. Every month, every year, that gets less. Assuming Forbes values are correct and the Chargers were valued at $2.0 billion upon leaving San Diego, the family's return after this LA gamble has decreased by $400 million and that debt only increases with time.

If you are Dea and see a long, slow car crash coming, wouldn't the prudent thing to be to sell your shares? Yes, it would. But Dean and the others can't, despite their "statement" today. Dean doesn't have cash on hand or he would have bought Dea out already. Hell, he wouldn't have incurred the current debt. I think Dea also recognizes for Dean and the other to buy her out, more debt will be incurred and thus her parents' investment merely incurs more debt and thus more harm for the family's values.

As I noted, Dea did this for the public shock and outrage; not that she will be legally successful. If you are the NFL owners, aren't you pushing Spanos to sell, with the above debt known? It would not surprise me. That doesn't mean the Chargers will return to San Diego. But it would not surprise me to see the team sold.

Was the information conveyed to you before or after the new TV and streaming deals? As for the salary cap decreasing, I don’t know if you can honestly assume that a one year occurrence can be directly tied to franchise value. The location fee is another thing that is misleading since it’s spread over 30 years.

At the end of the day, unless Dean pulls a Richardson, he’ll probably hang onto the franchise until he wants to sell it. If he does at all. I don’t know if the NFL can force him to do it. Heck, they didn’t even do anything about Snyder or McNair. It’s incredibly difficult because it sets bad precedent.

[richpjr]

Was the information conveyed to you before or after the new TV and streaming deals? As for the salary cap decreasing, I don’t know if you can honestly assume that a one year occurrence can be directly tied to franchise value. The location fee is another thing that is misleading since it’s spread over 30 years.

At the end of the day, unless Dean pulls a Richardson, he’ll probably hang onto the franchise until he wants to sell it. If he does at all. I don’t know if the NFL can force him to do it. Heck, they didn’t even do anything about Snyder or McNair. It’s incredibly difficult because it sets bad precedent.

Even if the franchise dipped in value because of the pandemic, that is a short term anomaly. The value of the team will continue to increase at a much faster rate than their debt service will.

Also, a team is worth what someone is willing to pay for it. Nobody thought the Clippers would get anywhere near what Balmer bought the team for.

[Xenos]

Even if the franchise dipped in value because of the pandemic, that is a short term anomaly. The value of the team will continue to increase at a much faster rate than their debt service will.

Also, a team is worth what someone is willing to pay for it. Nobody thought the Clippers would get anywhere near what Balmer bought the team for.

[Xenos]

Just to be clear, I’m completely neutral on this. It would be nice to get a Tepper like owner who’s rich and innovative. And most importantly is willing to keep the team in SoCal and the brand. I just don’t know what will happen with new ownership and whether they’ll do that. Outside of moving the Chargers to LA, the Spanos haven’t done anything egregious enough for me to completely turn on them. Maybe if we had kept Lynn, I would be singing a different tune.

[21&500]

I don’t dislike dean as much as I am always looking to upgrade at every position, including owner (how ironic). I don’t think the Spanii are the worst owners, so any change up top comes with inherent risk, still, it would be nice to have a more wealthy and powerful owner

Do rich owners pay players under the table to avoid the salary cap? Is that even plausible?
or even to offset the state tax when competing for FA against teams in Texas and Florida?
if so, sign me up for Bezos

I understand richer owners have an advantage in FA regardless of the cap because they can offer more cash up front, so that’s reason enough to want a richer owner

[Boltjolt]

Just to be clear, I’m completely neutral on this. It would be nice to get a Tepper like owner who’s rich and innovative. And most importantly is willing to keep the team in SoCal and the brand. I just don’t know what will happen with new ownership and whether they’ll do that. Outside of moving the Chargers to LA, the Spanos haven’t done anything egregious enough for me to completely turn on them. Maybe if we had kept Lynn, I would be singing a different tune.

The only team that has rebranded is the Ravens. I'm talking since the last 50+ years. They rebranded often when teams were getting established. But for me, if they leave LA and CA, I'd probably be done anyways. Rebranded and left for say Texas, for sure id be done.

A new owner going back to SD would be sweet. Bezos can then built a stadium himself and put it where ever he wants.
Won't need the piss poor city counsel whining about everything.

[Eurobolt]

I’d love to know how the family trust went $353 million in the red. Borrowing from new banks to pay off the old banks works until it doesn’t.

A regional bank here just stopped issuing new HELOCs and what happens when credit suddenly tightens?

Trust own 36% of Chargers?

650 relocation fee + 200 g4 loan

850 total, 36% of this - we looking at 306 million.

47 mils including intrest on debt looks better.

So probably the debt without 36% ownership of Chargers is approx ??? Let soone take educated financial guess

As Dean loves to be in charge of Chargers Dea prefer trust it is about their egos nothingnless nothing more.