MLB Approves Sale of San Diego Padres to José Feliciano and Kwanza Jones

Major League Baseball team owners have unanimously approved the sale of the San Diego Padres to an investor group led by José E. Feliciano, a private equity billionaire, and his wife and business partner, Kwanza Jones. This decision was announced following a vote on Monday. Feliciano and Jones had previously agreed in May to purchase the Padres from the family of the late owner Peter Seidler. The sale was valued at a record $3.9 billion, marking the highest valuation in MLB history. Official closure of the transaction is expected in the coming weeks.

MLB Commissioner Rob Manfred emphasized the importance of the Padres in San Diego and expressed confidence in the leadership of Feliciano and Jones. “José and Kwanza understand the unique place the Padres hold in San Diego and the powerful bond between the club and its fans,” Manfred stated. He highlighted their potential contribution to building on the franchise’s existing strengths in a key market for the league.

The Seidler family’s intention to explore a sale was made public last November, two years after Peter Seidler’s death. Feliciano, at 53, co-founded the private equity firm Clearlake Capital in Santa Monica and emerged as the preferred buyer. Current Padres CEO Erik Greupner and general manager A.J. Preller will continue managing day-to-day operations.

Commenting on the acquisition, Feliciano and Jones emphasized their dedication to the franchise. “We are a family first, and becoming owners of the San Diego Padres means joining an even larger one,” they said. Their commitment includes bringing a World Series championship to San Diego and fostering a competitive organization. They plan to engage actively with the team, bringing their experience and perspectives to the table, and aim to invest strategically in the Padres’ future.

Peter Seidler became the primary owner of the Padres in 2020, having joined the ownership group in 2012. He gained immense respect within the community for his financial support aimed at achieving success and his efforts in connecting with fans. Under Seidler’s leadership, the team significantly increased its payroll and achieved four playoff appearances in six years.

The Padres are currently part of the playoff race, boasting 17 wins in their last 22 games and holding a wild-card position with a 67-58 record. Manager Craig Stammen noted that the sale’s impact on day-to-day operations is minimal. “As far as the day-to-day operations, nothing changes for us,” he said, emphasizing the continuity in their playing strategy.

The new ownership group includes minority partners Joey and Jesse Buss, relatives of the former Los Angeles Lakers owner Jerry Buss. Interestingly, the Buss siblings coincidentally decided to sell their remaining minority stakes in the Lakers earlier on Monday.

Feliciano and Jones have praised the Padres as a community-centric entity and have been actively participating by attending games in San Diego and Mexico City. Player Jackson Merrill expressed his confidence in the new ownership, recognizing their dedication and citing trust as a key element in transitioning to their leadership.

Despite having never won a World Series, the Padres remain a coveted asset, being the sole representative in San Diego’s metropolitan area, home to approximately 3.3 million people. Petco Park, the team’s downtown stadium, ranks among the sport’s most vibrant venues. Last year, the Padres recorded the second-highest attendance in the league. Feliciano, a native of Puerto Rico, now represents the second Latino principal owner in MLB, alongside the Los Angeles Angels’ Arte Moreno. Notably, Latino and Hispanic players constitute about 30% of major league rosters.

Feliciano and Jones plan to hold an introductory press conference at Petco Park on Monday, August 24.

AP Baseball Writer Mike Fitzpatrick in New York contributed to this report.

AP MLB