Black Friday Bargain: Own a Piece of the San Diego Chargers

9:42 am Uncategorized

In what his attorney has characterized as an estate planning move, San Diego Chargers owner Alex Spanos is trying to sell a minority stake in the team, according to an article in the San Diego Union-Tribune.

Mark Fabiani, special counsel for the team, said:

“In a family-owned business, it’s common as the parents get up in age to attempt to diversify and generate cash to handle estate issues, and that’s exactly what’s happening here. I think if you look around at many family-owned businesses, you’ll see the same thing.”

Spanos, 87, and his wife own 36 percent of the team.  Their four children own another 15 percent each.  According to his son Dean, Chargers president, Spanos is currently suffering from severe dementia.

Selling off assets to reduce a taxable estate is a common estate planning strategy.  According to Forbes magazine, Spanos has a net worth of $1.1 billion.  The San Diego Chargers NFL franchise is estimated to be worth $907 million.

Contact us today for individualized planning strategies to meet your unique needs.

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