San Diego Padres Near Historic $3.9 Billion Sale to José E. Feliciano
The San Diego Padres are on the verge of a historic sale to José E. Feliciano, co-founder of Clearlake Capital and part of the Chelsea FC ownership group, along with his wife Kwanza Jones, for a record $3.9 billion, according to the Wall Street Journal. The official announcement is anticipated in the coming days. In the final bidding round, Feliciano's group competed against notable contenders, including: Dan Friedkin, owner of Everton Tom Gores, owner of the Detroit Pistons Joe Lacob, owner of the Golden State Warriors Feliciano’s net worth matches the sale price, indicating his capability to complete this monumental transaction. The sale process began last November when John Seidler and the Padres' ownership group first announced their intention to sell following the death of beloved owner Peter Seidler. If finalized, this sale would shatter the previous MLB franchise record held by the New York Mets, who were sold for $2.4 billion in 2020. In March 2023, Forbes valued the Padres at $3.1 billion. The franchise was originally purchased for $800 million in 2012. Peter Seidler's tenure was marked by aggressive spending, with the Padres often ranking high in player payroll. Since his passing, the team's payroll significantly decreased from $248.9 million in 2023 to $164.5 million in 2024. Currently, the Padres rank 10th in MLB with an Opening Day payroll of $201 million. On the field, the Padres have made the postseason four times in the last six years, advancing to the National League Championship Series in 2022, yet they remain one of five franchises without a World Series title, having previously won pennants in 1984 and 1998.
Source: CBS Sports - 2026-04-17