The Major League Baseball team owners unanimously approved the sale of the San Diego Padres to an investor group led by private equity billionaire José E. Feliciano and his wife, Kwanza Jones. The league confirmed the approval following a vote on Monday. Feliciano and Jones agreed in May to purchase the Padres from the family of the late owner Peter Seidler for an MLB-record valuation of $3.9 billion. The deal’s completion awaits the official closing of the transaction in the coming weeks.
José and Kwanza understand the unique place the Padres hold in San Diego and the powerful bond between the club and its fans,
stated Commissioner Rob Manfred. 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.
Seidler’s family announced its plan to explore a sale of the Padres in November, two years following Peter Seidler’s passing. The 53-year-old Feliciano, co-founder of the Santa Monica-based private equity firm Clearlake Capital, was chosen as the Seidler family’s preferred buyer.
According to MLB’s announcement, Padres CEO Erik Greupner and general manager A.J. Preller will continue managing the team’s day-to-day operations. We are a family first, and becoming owners of the San Diego Padres means joining an even larger one,
Feliciano and Jones stated. We are grateful to the Seidler family, and especially to Peter, for raising the expectations of what this franchise can achieve. Our ambition is clear: to bring a World Series championship to San Diego and build an enduring organization capable of competing for championships year after year. We intend to be engaged owners, bringing our energy, experience, and perspective while working alongside the talented team already in place and investing ambitiously and thoughtfully in the Padres’ future. We are all in and committed to winning.
Peter Seidler assumed majority control of the Padres in 2020 after joining their ownership group in 2012. He was well-regarded in San Diego for his financial commitment to winning and his involvement with the fan base. Seidler passed away at 63 in November 2023. Under his leadership, the Padres significantly increased their payroll, enabling Preller to establish a solid foundation for the current team. The Padres have secured four playoff spots over the past six years, winning at least 89 games in three of the last four seasons, marking the franchise’s most successful period.
San Diego is presently competing in the playoff race, having won 17 of its last 22 games to move into an NL wild-card position with a 67-58 record. As far as the day-to-day operations, nothing changes for us,
Padres manager Craig Stammen mentioned before the series opener against the Mets in New York. We’ve got to go out here and play the games, just like we have all season long. The ownership sale has kind of been something that’s been going on throughout the entire year. It doesn’t really affect the play on the field, but we’re excited to have José and Kwanza part of the Padres and can’t wait to welcome them.
The Buss family’s Joey and Jesse Buss, sons of former Los Angeles Lakers owner Jerry Buss, are among the new minority partners in the Padres’ ownership group. Coincidentally, the Buss siblings decided earlier Monday to sell their remaining minority ownership stake in the Lakers to new majority owners Josh Kushner and Bob Iger.
When Feliciano and Jones finalized their agreement to purchase the Padres earlier in the year, they praised the team as a unifying force in San Diego, rooted in community, connection, and belonging.
Since then, they have been seen attending Padres games in San Diego and Mexico City. It’s good to see people that care working with us, you know?
said Padres outfielder Jackson Merrill. The Seidlers cared a lot. It’ll be fun to see how these people take it, mold it into their own. Trust in them, as they trust in us on the field. So, full confidence in them. Excited to meet them.
Although the Padres have never won a World Series, they emerged as a valuable prospect for prospective owners as the sole team in the top four North American sports leagues in a metropolitan area with around 3.3 million people. Downtown Petco Park has become one of the most energetic ballparks, with the Padres ranking second in majors in attendance last season. Feliciano, born in Puerto Rico, becomes the second Latino principal owner in baseball, alongside the Los Angeles Angels’ Arte Moreno. Latino and Hispanic players make up about 30% of major league rosters.
Feliciano and Jones will hold an introductory news conference at Petco Park on Monday, August 24.
Contributions from AP Baseball Writer Mike Fitzpatrick in New York.