Overview
- José E. Feliciano and Kwanza Jones have reached an agreement to buy the San Diego Padres for about $3.9 billion, a new MLB record that surpasses the Mets’ $2.4 billion sale in 2020.
- Sportico reports the Padres generated about $530 million in 2025 revenue with $20 million in EBITDA and drew 3.4 million fans, the second-highest attendance in MLB.
- Analysts expect franchise values to rise off this benchmark, with Yahoo, citing Sportico, noting the Dodgers could now be valued above $10 billion.
- The sale has become a labor flashpoint as one anonymous executive said the price weakens owners’ push for a salary cap, even as Sportico notes a cap would lower costs for high-payroll clubs like San Diego.
- The team went to market after 2023 legal disputes in the Seidler family, and Sportico says Feliciano and Jones topped bids from Dan Friedkin, Tom Gores, and Joe Lacob, with at least two offers exceeding $3.5 billion.