Tom Gores to acquire 27% stake in LA Chargers for $750 million

Billionaire Tom Gores will purchase a 27% stake in the Los Angeles Chargers for $750 million, valuing the team at $4 billion. This is over 30% less than its estimated worth of $5.83 billion. Gores is acquiring the entire 24% stake from Dea Spanos Berberian and 1% each from Dean, Alexis, and Michael Spanos. After the sale, the Spanos family will retain 69% ownership, while Gores will be a limited partner without control over team operations. The deal resolves ongoing legal disputes involving Berberian and her siblings. Gores, who also owns the Detroit Pistons, is making this investment independently from his private equity firm, Platinum Equity.