MLB announced the unanimous approval of the sale of the San Diego Padres to an investor group led by José E. Feliciano and Kwanza Jones following a vote by team owners. The couple reached an agreement with the Seidler family to purchase the franchise at an MLB-record valuation of $3.9 billion, with the transaction expected to close in the coming weeks.
The Seidler family initiated an exploration of a sale last November, approximately two years after the death of Peter Seidler, the team’s majority owner. Feliciano, a 53-year-old co-founder of private equity firm Clearlake Capital based in Santa Monica, emerged as the family’s preferred choice from among competing bidders. MLB Commissioner Rob Manfred expressed optimism about the new ownership, noting their understanding of the Padres’ importance to San Diego and their commitment to building on the organization’s recent success.
Current leadership will maintain operational control, with CEO Erik Greupner and general manager A.J. Preller remaining in their positions. In their statement, Feliciano and Jones emphasized their ambition to bring a World Series championship to San Diego and to invest ambitiously in the team’s future.
Under Peter Seidler’s ownership beginning in 2020, the Padres significantly increased payroll and achieved their most successful period in franchise history, with four playoff appearances in the last six years and attendance ranking second in the majors last season. The team currently sits in playoff contention at 67-58. Feliciano, born in Puerto Rico, becomes the second Latino principal owner in baseball. The new owners plan to hold an introductory news conference at Petco Park on Aug. 24.
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