Net Worth and Slot of NFL Owners
#22 Dean Spanos, Los Angeles Chargers
In 1960, Dean’s father, Alex, founded AG Spanos Companies, one of the most prominent apartment developers in the country. The company remains among America’s largest family-owned businesses.
After failing to secure a new stadium in San Diego, Dean Spanos moved the Chargers to Los Angeles. The team is owned by the family, which, as a whole, is worth $2.4 billion.
Net worth: $2.4 billion
LMFAO that simply proves my point. If his net worth is what the team's net worth is then he's broke. Networth is like equity in a home. You only get to tap into that money by either mortgaging the house or selling it. The funny thing is bills aren't paid by networth credits. Remember he's being sued by a relation for squandering the family money. They still have bills outstanding from the move, they still owe $360M to the NFL for relocation fees. His wealth is all on paper, i.e. it's smoke and mirrors. Oh by the way he's also behind on his SoFi rent. He had a chance to take on a partner when he left San Diego. Eli Broad made him an offer for 35% of the team he would be the team's deep pockets and would have paid the relocation fee, build the HQ and practice facility and all the moving costs. But Spanos stiffed him.
Broad was willing to build the team a stadium in San Diego, all privately financed but again Spanos in his greed turned him down. This is what I meant about rich people. They don't see that a smaller share of a hugely bigger pie is more overall. What Spanos is afraid of is that the suit will force the team to become current on all bills to really reflect how much it generates.
Broad was going to purchase the land just north of Lego Land which was or is all strawberry fields in Carlsbad. So in actuality, his team's net worth would have been greater due to the fact they would have owned the stadium and all the land it was on. How much do you think an acre of ocean-view property is worth in Carlsbad?
The Viejas Tribe offered a parcel of property on a long-term lease for the valley property by their casino. They could have gotten a spur line of their tram system to Alpine and the Casino/Stadium. I know this because I used to work for the Tribe. Spanos turned it all down. The Spanos family's wealth is all just numbers on paper.
At Qualcomm Stadium, the Spanos family netted after all costs and expenses a net profit of $30-$40M each year. Had they stayed in San Diego, that number would have tripled. All southern OC would then have become their exclusive marketing zone as far north as Newport and Tustin which is the richest part of OC.
Now he's mired in debt and short-changing the other greedy family members whose income has actually dropped. That is why he's being sued by his own family. He can't dodge and delay the suit forever.
Florio thinks the Rams are going after Cousins (who is already 34) next year. IMO they will draft a QB of the future, or trade for Herbert which is why IMO they cleared $60M in cap. Herbert has at least 10 more good years in him. I think the Rams are done with short term rental players.