The four parties trying to buy the Padres submitted a second round of bids on Tuesday and all approached the $3.5 billion mark, a source close to the negotiations told Times of San Diego.
But the eventual Padres sales price — already expected to be the largest in Major League Baseball history — could still go higher.That’s because the Seidler family could still push for a third round of bids from the interested buyers, the source said, though that has not yet been determined.
The Seidlers put the team up for sale in November, two years after the death of controlling owner Peter Seidler at 63 years old. The family has told buyers they would like to have the entire sale tied up and closed by June, the source said.
Of the four bidders, one is an ownership group led by Joe Lacob, the principal owner of the NBA’s Golden State Warriors, the WNBA’s Valkyries and the Chase Center. Another group is led by Dan Friedkin, who owns three European soccer clubs. Tom Gores, the owner of Platinum Equities and the NBA’s Pistons, heads another. The last group is led by Jose E. Feliciano, who owns the Chelsea Football Club, is in the hunt
According to recent valuations by Forbes, the Padres are currently worth $3.1 billion, ranking 10th in the league. The Yankees lead baseball at $8.5 billion and the Dodgers are second at $7.8 billion.
The Mets previously sold for the highest ever price of $2.4 billion, when Steve Cohen purchased the team in 2020. They are currently valued at $3.5 billion. The Dodgers fetched $2.15 billion in 2012 when Guggenheim Baseball Management bought the team.
Of the figures leading the four potential ownership groups, Friedkin is the wealthiest, with a worth of $11.1 billion, according to Forbes. The others in descending order are Gores at $10.1 billion, Feliciano at $3.9 billion and Lacob at $2.3 billion.
An impediment for Lacob may be that his Warrior partner and Dodgers minority owner Peter Guber might have to divest his Dodger shares to own a piece of the Padres.
Gores has previous San Diego ties. His hedge fund bought the San Diego Union-Tribune from the Copley family in 2009 and flipped it to local hotel owner Doug Manchester two and a half years later. More recently in 2024, he purchased 27% of the Chargers from the Spanos family, seven years after the team relocated from San Diego.
Hence then, the article about latest round of bids pushes potential padres sale price near 3 5 billion was published today ( ) and is available on Times of San Diego ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( Latest round of bids pushes potential Padres sale price near $3.5 billion )
Also on site :