The sale of the San Diego Padres was unanimously approved by the rest of the owners of MLB ballclubs on Monday, the league announced. Approval remains contingent upon the closing of the transaction, which is expected over the next few weeks. The new ownership group will be headed up by control person Jose E.
Feliciano and his wife and business partner, Kwanza Jones. The Padres were formerly run by Peter Seidler until his death in 2023. Control of the team after his passing fell to the rest of his family.
"On behalf of Major League Baseball, I thank John Seidler and the entire Seidler family for their stewardship of the San Diego Padres," commissioner Rob Manfred said in a statement. "Continuing the legacy established by the late Peter Seidler, the Padres reached the Postseason four times in the last six years, energized one of baseball's most passionate fanbases, and strengthened the club's role as a cornerstone of the San Diego community. We appreciate the Seidler family's longstanding commitment to our national pastime and their many contributions to the game.
"It is my pleasure to welcome José E. Feliciano and Kwanza Jones as the new majority owners of the Padres following today's vote. José and Kwanza understand the unique place the Padres hold in San Diego and the powerful bond between the club and its fans.
We look forward to their leadership of the Padres and to working with them to build on the club's strong foundation in a market that is so important to Major League Baseball." The sale came with a $3.9 billion valuation, which beats the previous record: the $2.4 billion that Steve Cohen paid for the New York Mets. The Seidler-led group bought the Padres for $800 million in 2012. The new owners immediately set their sights on bringing a World Series championship to San Diego.
The Padres are one of five current MLB franchises to have never won the title, along with the Rays, Mariners, Brewers and Rockies. "We are a family first, and becoming owners of the San Diego Padres means joining an even larger one," Jones and Feliciano said in a statement. "We are grateful to the Seidler family, and especially to Peter, for raising the expectations of what this franchise can achieve.
Extract — continue reading at the source.
