Chargers speak out after sale of stake in franchise to firm involved with Bills, too

The Los Angeles Chargers issued a statement after this week’s news that the NFL granted permission for the team to sell an eight-percent stake in the franchise to private equity firm Arctos.

Chargers owner and chairman of the board Dean Spanos released the following statement: 

“We're extremely pleased to welcome Arctos to the Chargers family as a limited partner. Arctos' track record in major professional sports speaks for itself, and we are grateful for their alignment moving forward during this time of tremendous growth for our organization.”

Back in 2024, the NFL opened up the doors to allowing private equity firms to buy up to 10 percent stakes in teams.

Spanos and the Chargers go for eight percent here, which means the family still holds the controlling stake at 61 percent.

Arctos acquired a 10 percent stake in the Buffalo Bills this past January and now holds stakes in the following MLB franchises, too: Dodgers, Chicago Cubs, San Francisco Giants, San Diego Padres, Houston Astros and Boston Red Sox.

Last year, Spanos and the Chargers sold a 27 percent stake to Tom Gores, owner of the Detroit Pistons.