Major League Baseball owners have unanimously approved the new ownership group for the San Diego Padres, clearing the way for the completion of the franchise’s record-breaking $3.9 billion sale. This significant decision was made during a conference call on Monday and is expected to finalize in the coming weeks.
The investor group is led by billionaire Jose E. Feliciano and his wife and business partner, Kwanza Jones, who agreed earlier this spring to acquire a controlling interest in the Padres from the Seidler family. Feliciano will succeed John Seidler as the controlling owner of the team.
In a statement, MLB Commissioner Rob Manfred expressed gratitude to John Seidler and his family for their stewardship. He highlighted the Padres’ achievements under their leadership, including reaching the postseason four times in six years and energizing one of baseball’s most passionate fan bases. Manfred also welcomed Feliciano and Jones, emphasizing their understanding of the Padres’ unique role in San Diego and the strong bond with its fans.
The $3.9 billion sale surpasses the previous MLB franchise record set in 2020 when Steve Cohen purchased the New York Mets for $2.42 billion. Feliciano, founder of Clearlake Capital and part-owner of Chelsea FC in the English Premier League, brings extensive experience to the role.
Peter Seidler, the longtime Padres owner who passed away in 2023, originally acquired the team in 2012 for $800 million. While the full terms of the purchase and details of the investor group have not been publicly disclosed, that Feliciano and Jones will hold up to a 40 percent equity stake.
Additional members of the investor group reportedly include Padres minority owner Alfredo Harp Helu and Joey and Jesse Buss, sons of former Los Angeles Lakers owner Dr. Jerry Buss. Some members of the Seidler family are expected to maintain partial ownership in the franchise, ensuring continuity as the team transitions to new leadership.
