Private Equity Billionaire Tom Gores To Buy 27% Stake In Chargers For $750 Million

Benzinga

Private equity billionaire Tom Gores has agreed to purchase a 27% stake in the Los Angeles Chargers for $750 million, valuing the team at $4 billion. This represents a discount of over 30% from its reported value of over $5 billion. Gores, who already owns the NBA’s Detroit Pistons, is acquiring the stake from Dea Spanos Berberian and three other Spanos family members. The transaction resolves ongoing legal disputes within the Spanos family.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Private equity billionaire Tom Gores has agreed to purchase a 27% stake in the Los Angeles

00:07Chargers for $750 million, valuing the team at $4 billion.

00:13This represents a discount of over 30% from its reported value of over $5 billion.

00:18Gores, who already owns the NBA's Detroit Pistons, is acquiring the stake from De Spanos

00:23Berberian and three other Spanos family members.

00:26The transaction resolves ongoing legal disputes within the Spanos family.

00:30For all things money, visit Benzinga.com slash GSTV.

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