Overview
- The Padres and the Seidler family announced Saturday that Kwanza Jones and José E. Feliciano will take control of the club if MLB owners approve the sale.
- Multiple outlets report the agreement values the franchise at about $3.9 billion, which would surpass the Mets’ $2.42 billion sale record from 2020.
- Reports say the couple would hold about 40% of the team and the Seidler family would keep a minority stake, with Feliciano expected to serve as control person.
- League approval requires a 75% owners vote that could come at the June meetings, followed by financial vetting and City of San Diego review of Petco Park interests.
- Feliciano, a Clearlake Capital co-founder and Chelsea FC part-owner, and Jones pledged to invest in the community and pursue a World Series for San Diego.