I recently blogged about Drayton McLane selling the Astros for estate planning reasons. Now Alex Spanos, minority owner of the San Diego Chargers, is selling his portion of the team for estate planning reasons as well. Spanos and his wife currently own 36% of the team, their four children own 15% each, and two additional owners own the last 4%. Thus, the Spanos family will continue to own a controlling stake in the team even after Alex sells his stake.
See Bernie Wilson, Attorney: Minority Stake of Chargers for Sale for Estate-Planning Purposes, The Canadian Press, Nov. 16, 2010.
Special thanks to Peter Parlapiano (2011 MBA/M.S. PFP candidate, Texas Tech) for bringing this to my attention.
