Overview
- The Seidler family agreed Saturday to sell majority control of the San Diego Padres to an investor group led by Kwanza Jones and José E. Feliciano in a deal valued at $3.9 billion.
- League approval remains pending, with at least 22 of 30 MLB owners set to vote in June, followed by financial vetting and required reviews by the SEC and the City of San Diego.
- If approved, Jones would break new ground as MLB’s first Black woman majority owner, and Feliciano would become the first majority owner of Puerto Rican descent.
- Existing investors, including members of the Seidler family, are expected to retain a minority stake while team leadership continues daily operations during the transition.
- The price would set a new MLB record by topping the Mets’ $2.42 billion sale and could reset franchise valuations after a competitive auction that drew multiple high-end bids.