AEG reported to be buying the San Diego Chargers

There is no other way to say this, than this is very bad news for San Diego Charger fans that happen to live in San Diego. AEG, and its owner Phillip Anshultz, are set to buy 35% of the team. This is a move by the aging Alex Spanos to prepare for his estate as the Death Tax will return and his family will owe a large sum of money when he eventually dies. I should also say that I indirectly work for Mr. Anshultz and he is no new comer to the world of sports ownership.

AEG owns the Los Angels Kings, a big piece of the Los Angeles Lakers, two MLS franchises, multiple hockey teams and control multiple sports arenas across this great nation. From what anyone can gather he is a fine sports owner, but to be buying a chunk of the Chargers likely means Anshultz plans on moving the team to Los Angeles.

Now even though the Spanos family currently owns 96% of this team, if AEG were to purchase 35% of it, it might give them control over it. NFL rules state that a person must own 30% of a team to control it. This could come down to which percentage of the team is bought from who: if AEG buys 35% from the 36% that Alex Spanos owns, or if they buy chunks from each of the Spanos children who control around 15% each.

Of course the NFL could invoke that other Rooney rule where the Rooney brothers were able to keep control of the team even they each of them only owned 15% of the Pittsburgh Steelers. What we can safely assume now is Anshultz is looking for a controlling interest in the team, and that he plans to move them to a new LA NFL stadium.

Related Links:

  • San Diego Chargers news and notes
  • The Business of the NFL
  • Joshua Lobdell.com