Hogan Lovells Advises Tom Gores on Minority Stake in Los Angeles Chargers.

Hogan Lovells advises Tom Gores, owner of the Detroit Pistons and principal at Platinum Equity, in acquiring a minority stake in the Los Angeles Chargers.

The acquisition of a minority stake in the Los Angeles Chargers is a strategic move that not only strengthens the franchise but also ensures the team’s legacy within the Spanos family. Faye and Alex Spanos, the original owners of the Chargers, had always envisioned the team as a central part of their family’s heritage.

The proposed deal guarantees that the Chargers will remain under the stewardship of Dean Spanos and his siblings, Alexis and Michael, solidifying the family's lasting impact on the franchise.

In a statement, the Chargers organization expressed its excitement about Gores joining the ownership group, saying, "The entire Los Angeles Chargers organization extends a warm welcome to Tom Gores as a new member of our team."

On behalf of Tom Gores, the NBA team owner and successful investor, he shared his enthusiasm about becoming part of the Chargers’ leadership. "It's a privilege to join the Chargers ownership group and become part of the NFL," Gores remarked. "I have great respect for Dean’s leadership throughout the NFL community, the Spanos family, and its legacy. I’m grateful for the opportunity to invest in the Chargers and look forward to partnering with Dean, Michael, and Alexis in our shared commitment to compete for championships."

Tom Gores emphasized his passion for sports and his excitement about working with the Spanos family in their quest to build a successful and competitive team. He added, “I’m proud to become part of an organization dedicated to winning on and off the field.”

Hogan Lovells provided comprehensive legal counsel to Tom Gores throughout the acquisition process. The deal team was led by Matthew Eisler, the Global Head of Sports at Hogan Lovells, and partner Michael Turrill, based in the firm’s New York and Los Angeles offices. Also playing a critical role were partners Mark Weinstein and Jessica Millett, along with senior associates Ben Shellhorn, Spencer Caldwell-McMillan, and Stephen Weinstein. Associate Hanna Wynn and law clerk Alec Kohli from the Denver office further supported the deal.

Hogan Lovells’ expertise in sports law, mergers and acquisitions, and corporate governance ensured a seamless and efficient process for Gores, guiding him through the complexities of acquiring a stake in one of the NFL’s premier franchises.

Tom Gores’ acquisition of a minority interest in the Los Angeles Chargers is the latest in a series of high-profile sports investments. As the owner of the Detroit Pistons, Gores has made significant strides in improving the team both on and off the court. His involvement with the Chargers further strengthens his presence in the sports world, showcasing his commitment to fostering success in the competitive environment of professional sports.

The move also aligns with Gores’ broader strategy of investing in high-potential franchises and continuing to expand his portfolio. His work with the Pistons has already made a significant impact, and now, with the addition of the Chargers, Gores is well-positioned to further influence the world of professional sports.

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