Overview
- Multiple outlets reported Friday that José E. Feliciano and Kwanza Jones agreed to buy the San Diego Padres for about $3.9 billion, with an announcement expected early next week.
- If finalized, the price would set an MLB record and top the $2.4 billion Steve Cohen paid for the New York Mets in 2020.
- The sale requires approval from at least 75% of MLB owners, and the net figure will reflect roughly $300 million in existing team debt.
- The agreement follows a final auction round that drew several offers above $3.5 billion from groups led by Joe Lacob, Dan Friedkin, and Tom Gores.
- The Seidler family launched the sale after Peter Seidler’s 2023 death and intra-family legal disputes, and observers say a record price could lift franchise valuations and shape debate heading into the next CBA talks.