MLB Owners Approve $3.9 Billion Padres Sale, Clearing Takeover by Week's End

3 articles · Updated · NBC San Diego · Aug 17

$3.9 billion—the highest price for an MLB franchise—won unanimous approval from the other 29 owners, allowing José E. Feliciano and Kwanza Jones to assume operational control of the Padres by the end of the week.
An eight-owner vetting committee had recently signed off after months spent finalizing the new group's ownership structure following its April victory in a bidding war over three other finalists.
The deal still needs City of San Diego approval because it includes a 30% stake in Petco Park, though that step is expected to be procedural and not delay closing.
Jones and Feliciano said they will keep investing in the club, retain CEO Erik Greupner and baseball operations head A.J. Preller, and pursue a World Series title in San Diego rather than relocate the team.
The sale ends the Seidler family's control of a franchise bought for $800 million in 2012 and follows Peter Seidler's 2023 death after he transformed the Padres into a regular playoff contender.