Klein Estate To Distribute Holdings
The estate of Eugene V. Klein, the former owner of the San Diego Chargers football team, intends to distribute its 5.4% stake in Zenith National Insurance Corp. to its beneficiaries.
But the trustees of the estate--Klein’s wife, Joyce, and Zenith chairman Stanley R. Zax--said in a filing with the U.S. Securities and Exchange Commission that they also may buy more of the Zenith Insurance stock or sell some of it to meet obligations.
Klein, who was on Zenith’s board, died on March 12 at age 69. He owned the Chargers from 1966 to 1984, but he made his fortune in wide-ranging businesses from car sales to book publishing. Klein also won the Eclipse Award for horse breeding three times. In May, 1988, one his fillies, Winning Colors, won the Kentucky Derby.