Spanos Not Selling Chargers Stake After All

Team owner was shopping minority share

Friday, Jun 10, 2011  |  Updated 1:56 PM PDT
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San Diego Chargers owner Alex Spanos is no longer looking to sell some of his stake in the NFL franchise.

Chargers spokesman Mark Fabiani told The Associated Press on Friday that the Spanos family had terminated a deal with Goldman Sachs Group Inc. to find a buyer for some or all of Alex Spanos' 36 percent stake in the team.

Fabiani says the sale was intended to reduce the 87-year-old Spanos' estate tax liability upon his death, but the temporary extension of the so-called Bush tax cut in December made selling the stake less urgent.

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