San Diego Padres agree to record $3.9bn sale to Jones-Feliciano group
The San Diego Padres have agreed to sell a controlling stake in the franchise to an investor group led by Kwanza Jones and José E. Feliciano in a Major League Baseball record deal.
The family of the late owner Peter Seidler formally announced the historic agreement on Saturday.
The proposed transaction, which remains subject to approval by Major League Baseball, values the franchise at a staggering $3.9bn (£3.08bn).
Sources indicate the private equity billionaire and his wife are expected to secure approximately a 40% equity stake in the team.
Building on a strong foundation
The Seidler family will retain a minority interest in the Californian organisation following the takeover.
“The Padres are more than a baseball team; they are a unifying force in San Diego, rooted in community, connection and belonging.”
A joint statement from the new prospective owners emphasised their commitment to earning the trust of the local fanbase.
“This is about more than baseball — it’s about boosting the pride, energy, and connection that define the Padres, investing in community, deepening belonging and ensuring this team remains accessible and endures for generations.”
Continuing the Seidler legacy
The decision to explore a sale began last November, two years following the passing of the immensely popular Peter Seidler.
His brother, John Seidler, has served as the club’s chairman since that tragic event and facilitated the handover.
“As I pass the baton to Kwanza and José, I do so with full confidence that they share that vision as well as the Padres’ deep commitment to San Diego.”
The outgoing chairman added that his primary goal had always been to continue building on their recent success in pursuit of a championship.
A thriving franchise
Peter Seidler originally joined the ownership group in 2012 when the team was purchased from John Moores for $800m.
He later assumed primary ownership in 2020 and quickly endeared himself to supporters through aggressive financial investment.
That backing allowed general manager A.J. Preller to assemble a highly competitive roster that has reached the postseason in four of the past six years.
The organisation continues to draw massive crowds as the only major North American sports franchise in the city, ranking second in MLB attendance last season.
On the field, the team has enjoyed a strong start to the current campaign, sitting second in the National League West with a 19-12 record.