Chargers add equity firm Arctos as a limited partner after NFL owners approve sale
Dean Spanos and his family will retain control of the Chargers organization with approximately 61% of the franchise. (George Walker IV / Associated Press)
The Chargers welcomed Arctos as a limited partner Tuesday as NFL owners approved a sale that transferred some the team's shares to the Dallas-based private equity firm that already has ties to the Dodgers.
'Arctos' track record in major professional sports speaks for itself," Chargers owner Dean Spanos said in a statement, "and we are grateful for their alignment moving forward during this time of tremendous growth for our organization.'
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According to a league memo The Times obtained last week, Arctos acquired 8% of the team's shares. Spanos and his family will retain control of the Chargers organization with approximately 61% of the franchise.
Arctos now has stakes in two NFL teams less than a year after the league approved private equity ownership. The company acquired a 10% stake in the Buffalo Bills in January, adding to its portfolio that already included MLB, NBA, NHL and MLS teams. Arctos has ownership stakes in six MLB teams: the Dodgers, Chicago Cubs, San Francisco Giants, San Diego Padres, Houston Astros and Boston Red Sox.
Read more: NFL owners vote to allow players to compete in flag football at 2028 L.A. Olympics
'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 partner Doc O'Connor said in a statement. "We're excited to get to work and help the team achieve their vision however we can.'
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Approaching a decade since their move to L.A., the Chargers have added two major ownership groups in the last year. Detroit Pistons owner Tom Gores bought a 27% stake in the team in September, resolving a long-running dispute between Dea Spanos Berberian and her siblings as Gores and his wife bought Spanos Berberian's share of the franchise.
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This story originally appeared in Los Angeles Times.
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