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The LBC
Joined: 12 Jan 2008
Posts: 15541
Location: Long Beach, CA
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 Posted: Mon Jun 13, 2011 5:23 pm Post subject: Spanos no longer looking for a buyer |
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http://msn.foxsports.com/nfl/story/San-Diego-Chargers-pull-minority-stake-off-the-market-061011
| Quote: | San Diego Chargers owner Alex Spanos is no longer looking to sell at least part of his stake in the NFL franchise, a team official said Friday.
The Spanos family terminated a deal with Goldman Sachs Group Inc. in March to find a buyer for some or all of Alex Spanos' 36 percent stake in the team, Chargers spokesman Mark Fabiani said. |
Basically, we knew this was what was going to happen when the Bush Tax Cuts were extended, this is just confirming what we already knew. Alex doesn't need to generate the spare cash for estate planning purposes anymore, so there's no longer a need to sell off a minority share.
Please don't go discussing the Bush Tax Cuts specifically, as we don't want to get off on political tangents.
But this withdrawal may have a hand in how open or not the team may be to the threat of moving north to LA when the lease on the Outhouse... err... Q, expires, as AEG has stated they want an ownership stake (they're saying majority stake right now but that's likely just a negotiating tactic with the end goal of getting A stake) in whatever team comes to play in the new stadium they're trying to get built in downtown LA.[/quote]
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The-Beast
Joined: 08 Feb 2006
Posts: 9002
Location: Las Vegas
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| Posted: Tue Jun 14, 2011 4:44 pm Post subject: |
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Meh, they're already gone. The Spanos have done a nice job of attracting fans in OC the last couple years.
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