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Alex Spanos

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Alex Spanos
Born
Alexander Gus Spanos

(1923-09-28)September 28, 1923
Stockton, California,U.S.
DiedOctober 9, 2018(2018-10-09)(aged 95)
Stockton, California, U.S.
Alma materUniversity of the Pacific
Occupation(s)Majority shareholder,San Diego/Los Angeles Chargers
Founder,A. G. Spanos Companies
Spouse
Faye Papafaklis
​
​
(m.1948; died 2018)​
Children4, includingDean Spanos

Alexander Gus Spanos(September 28, 1923 – October 9, 2018) was an Americanbillionairereal estate developer, founder of theA. G. Spanos Companies,and the majority owner of theSan Diego/Los Angeles Chargersof theNational Football League(NFL).

Early life and education

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Spanos was born inStockton, CaliforniatoGreekimmigrants[1]Constantino and Evanthia Spanos.[2]His father owned abakery[1]where the young Spanos started working at the age of eight.[2]According to his autobiography, Spanos was "born into conflict", since his parents were constantly fighting. Spanos' mother even left the family home for two years and attempted to take two children with her, but his parents reunited when he was a teenager and remained married until his death. Spanos, who played a large part in mediating the conflict between his parents, stated that his turbulent home life was the reason he strove to provide a stable environment for his own children.[3]In 1942, he dropped out of college at theCalifornia Polytechnic Schooland joined theArmy Air Forcetraining as a pilot but left the program and instead served as a tail gunner during World War II.[2]Spanos earned varsity letters in swimming and diving at theUniversity of the Pacificin Stockton and later distinguished himself as an amateur golfer.[4]

Career

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In 1951,[2]he borrowed $800 ($9,375 in 2024) from a local banker to buy a truck which he then used to sell sandwiches to migrant farm workers in theSan Joaquin Valley.[1]He invested his earnings in real estate and at the suggestion of his tax accountants, started to build apartments.[1]In 1960, he foundedA. G. Spanos Companies,[2]which by 1977 had become the largest apartment builder in the United States.[2][5]The corporation is based in Stockton and has 10 subsidiaries.

In 1984, Spanos bought 60% of theSan Diego Chargers(nowLos Angeles Chargers) from majority ownerEugene Kleinfor $48.3 million.[2]Over the next 10 years, he bought out the shares of several small co-owners, bringing his control of the team to 97%. The remaining 3% was held by San Diego restaurateurGeorge Pernicano,an investor in the team since a few years after its inception, until Pernicano's death in October 2016;[6]and Bill Fox, a local community leader, until his death in 2020.[7]Since 1993, Spanos' sonDeanhas handled the daily operations of the franchise.[2]According toForbes,as of August 2022, the Los Angeles Chargers are worth $3.875 billion.[8]

Philanthropy and political contributions

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Alex G. Spanos Stadium atLincoln High School

Spanos donated $500,000 to renovate the Fox Theatre in downtown Stockton, and with the approval of the City of Stockton, renamed the facility the Fox California Bob Hope Theatre.[citation needed]TheAlex G. Spanos CenteratUniversity of the Pacificin Stockton, the Alex G. Spanos Stadium forLincoln High Schoolin Stockton, the Alex G. Spanos Sports and Recreation Complex inSacramento,the Alex G. Spanos Training Center atUCSDare named after him. From 2006 to 2022, theMustang Memorial FieldatCal Polyalso bore his name, after he donated $8 million to renovate the stadium.[9]

Spanos was one of the largest contributors toGeorge W. Bush's re-election campaign in 2004.[10][better source needed]By contributing $5 million to 527 groups that supported the Bush campaign in 2004, Spanos ranked among the top five GOP donors. President Bush appointed Spanos to theKennedy Centerboard in 2004. Spanos was inducted into the California Building Industry Hall of Fame in 2005. Spanos also received theAHEPAAward, an award that recognizes members of the community for their contributions and achievements in their chosen field of endeavor.[citation needed]

Personal life

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In 1948, Spanos married Faye Papafaklis.[2]They had four children:Dean Spanos,the Chargers' team president; Michael Spanos, the Chargers' executive vice president; Alexis Spanos Ruhl, a vice president of A. G. Spanos Companies; and Dea Spanos Berberian, a vice president of A. G. Spanos Companies.[11]In his autobiography, Spanos credited his wife with much of his success and stated that the couple did not recall "one real argument."[3]Faye Spanos died on August 7, 2018, aged 92.[12]

Spanos resided inStockton, California.[13]He also owned property inLas Vegas,Nevada.Spanos had a seven-way heart bypass in 2000,[2]and had surgery and chemotherapy for colon cancer. After his heart bypass at Sacramento Mercy General Hospital, Spanos donated $10 million to the hospital to sponsor the construction of a new state-of-the-art heart center.[citation needed]

Spanos wrote a book calledSharing the Wealth: My Storywhich detailed his rise from a moneyless man of 27 years to become a billionaire. Spanos was the first person to be on the winning teams in both theBob Hope Desert Classicin Palm Desert (1977) and the Bob Hope British Pro-Am (1980).[citation needed]

Spanos died October 9, 2018, age 95,[14]of complications fromdementiathat had been diagnosed ten years prior.[15]According to friends, he had been brokenhearted by the death of his wife two months earlier.[citation needed]

See also

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References

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  1. ^abcdCobbs, Chris (March 11, 1985)."ALEX SPANOS: How the son of an impoverished Greek immigrant borrowed $800 and turned it into a business and sports empire worth $160 million".Los Angeles Times.
  2. ^abcdefghijSan Diego Union Tribune: "Alex Spanos 'I Hate Losing'" by Roger M. ShowleyMay 12, 2002
  3. ^abSpanos, Alex; Seal, Mark; Kasparian, Natalia (2013-02-05).Sharing the Wealth: My Story.Simon and Schuster.ISBN9781621571032.
  4. ^Krasovic, Tom (2018-10-09)."Alex Spanos, longtime Chargers owner, dies at 95".Los Angeles Times.Retrieved2021-12-10.
  5. ^"Forbes Largest Private Companies 2003".Forbes.com.Archived fromthe originalon December 26, 2003.Retrieved2010-09-27.
  6. ^"Minority Chargers' Owner Dies at Age 98".nbcsandiego.com.6 October 2016.Retrieved18 March2018.
  7. ^Remembering Bill Fox
  8. ^"San Diego Chargers on the Forbes NFL Teams Valuation List".Forbes.com.Retrieved2015-03-19.
  9. ^"Cal Poly".Cal Poly.Retrieved5 September2018.
  10. ^Shaw, Hank."Spanos spending millions on ballot".recordnet.com.
  11. ^Potter, Matt (March 6, 2012)."Spanos Clan to Host Romney Fundraiser at Stockton Estate".San Diego Reader.
  12. ^"Faye Spanos, wife of Chargers owner Alex Spanos, dies at 92".espn.com.8 August 2018.Retrieved9 August2018.
  13. ^"Alexander Spanos & family".Forbes.Retrieved29 April2018.
  14. ^Sam Farmer (October 9, 2018)."Chargers owner Alex Spanos dies at 95".LA Times.RetrievedOctober 9,2018.
  15. ^"Pat Bowlen resigns control of Denver Broncos, acknowledges he is dealing with Alzheimer's disease".Denver Post.RetrievedJuly 23,2014.
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