Los Angeles Chargers selling portion of team to private equity firm

There may be some new faces in the owners’ suites at SoFi Stadium this fall.

The Los Angeles Chargers are looking to sell an 8% stake in the team to Arctos, a private investment firm, the Los Angeles Times reports.

The sale, which would reduce the Spanos family’s stake to about 61%, will be voted on at next week’s Spring League Meeting in Minnesota.

Detroit Pistons owners Tom and Holly Gores bought a 27% stake in the team last year, though as NFL sportswriter Mike Florio noted, that purchase did not give the Gores “control or path to control,” and the Gores “have no day-to-day involvement in the Chargers.”

Instead, the Gores made a business investment, and given the size of Arctos’ ownership share, it’s likely the firm is looking to do the same.

The amount of Arctos’ purchase, as well as that of the Gores, has not been made public, making it difficult to determine the Chargers’ value.

Using the Washington Commanders’ valuation of $6 billion as an example, however, an 8% stake would cost just south of $500 million.