Equity firm Arctos approved as Chargers limited | College News
The Chargers welcomed Arctos as a limited associate Tuesday as NFL house owners approved a sale that transferred some the workforce’s shares to the Dallas-based non-public equity firm that already has ties to the Dodgers.
“Arctos’ track record in major professional sports speaks for itself,” Chargers proprietor Dean Spanos mentioned in a assertion, “and we are grateful for their alignment moving forward during this time of tremendous growth for our organization.”
According to a league memo The Times obtained final week, Arctos acquired 8% of the workforce’s shares. Spanos and his household will retain control of the Chargers group with roughly 61% of the franchise.
Arctos now has stakes in two NFL groups much less than a 12 months after the league approved non-public equity possession. The company acquired a 10% stake in the Buffalo Bills in January, including to its portfolio that already included MLB, NBA, NHL and MLS groups. Arctos has possession stakes in six MLB groups: the Dodgers, Chicago Cubs, San Francisco Giants, San Diego Padres, Houston Astros and Boston Red Sox.
“We’re honored to join the Los Angeles Chargers ownership group and are grateful to Dean and the rest of the management team for their partnership,” Arctos cofounder and co-managing associate Doc O’Connor mentioned in a assertion. “We’re excited to get to work and help the team achieve their vision however we can.”
Approaching a decade since their transfer to L.A., the Chargers have added two main possession teams in the final 12 months. Detroit Pistons proprietor Tom Gores purchased a 27% stake in the workforce in September, resolving a long-running dispute between Dea Spanos Berberian and her siblings as Gores and his spouse purchased Spanos Berberian’s share of the franchise.
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