Alright, hoop heads, buckle up! We’ve got some juicy crossover news that blends the NBA and NFL worlds in a way you wouldn’t believe.
Pistons’ Boss Dives into NFL Waters
So, get this: Tom Gores, the big cheese of the Detroit Pistons, just snagged a 27% slice of the Los Angeles Chargers. Yeah, you heard that right. According to multiple reports, Gores is now dipping his toes into the NFL pool. He’s picking up shares from Dea Spanos Berberian and her three siblings. Talk about a power move!
Family Feuds and Financial Fumbles
Now, here’s where it gets spicy. The Spanos family has been in a financial pickle ever since the Chargers bolted from San Diego to LA in 2017. This deal is more than just business; it’s putting an end to a long-standing sibling rivalry. Dea Spanos Berberian has been at odds with her brother Dean, even dragging him to court over some pretty heavy accusations. Misogyny? Self-dealing? Yikes. But with Gores stepping in, Dea’s agreed to drop all her lawsuits.
NEWS: Billionaire @DetroitPistons owner and Platinum Equity founder Tom Gores has deal in place to buy 27% of the NFL’s @chargers, a deal intended to settle a long-running feud between Chargers owner Dean Spanos and his sister.
โ Ben Fischer (@BenFischerSBJ)
From Hoops to Helmets: Gores’ Growing Empire
Gores isn’t new to the sports scene. He took over the Pistons back in 2011 and became the full owner by 2015. Now, he’s branching out, but interestingly, this Chargers deal is a “personal investment.” No Platinum Equity strings attached. I think it’s smartโkeeping business and personal investments separate can avoid a lot of headaches.
Whatโs Next for the Chargers?
Even though Gores is buying in, Dean Spanos still holds the reins. The Spanos siblings combined will own 69% of the team, while non-family members hold a tiny 4%. So, Gores won’t have any say in running the team, but hey, owning a piece of an NFL team is still pretty cool, right?
And let’s not forget, this marks a significant moment as it’s the first known deal since the NFL greenlit private equity firms to buy up to 10% stakes in teams. But no private equity hereโjust Gores and his deep pockets.
Wrapping It Up
So, what do you think about this cross-sport venture? Will Gores’ involvement bring stability to the Chargers, or is this just another chapter in the Spanos family drama? Drop your thoughts below or hit me up on Twitter. And speaking of trades, did you catch that wild Curry rumor?
Stay tuned, folks. This season’s shaping up to be one for the books!
