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.”
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.
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“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.”
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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