The sale of the Padres is scheduled for approval this coming Monday via conference call, a baseball source told Times of San Diego Tuesday.
The news comes days after John Seidler, the team’s control person, told the Times of San Diego at Chase Field that the deal was expected to close sometime this month.
The Seidler family announced May 2 they had decided to sell the team to Jose Feliciano, co-founder of Clearlake Capital Group, a private equity firm, and co-owner of the English soccer club Chelsea FC, and his wife, Kwanza Jones, a singer and songwriter. The team will be sold at a record valuation of $3.9 billion.
Feliciano and his wife are expected to have a controlling interest in the $1.7 billion range. They spent months putting together a group of minority partners and submitting the necessary paperwork to MLB for approval.
The MLB sale process involves vetting potential buyers through an ownership committee, which then recommends them to the commissioner’s executive council of eight owners. That process concluded earlier this month, sending it on for final approval by the 30 owners, which should be perfunctory and unanimous.
Like any baseball matter it needs 75% of the owners to approve it.
The Seidler and O’Malley families purchased the team from John Moores in 2012 for $800 million. They are the heirs to former Dodger owners Walter and Peter O’Malley. Peter Seidler, the previous control person, invested heavily in the team on the field, before he died of an infection on Nov. 14, 2023, at the age of 63.
The hierarchy and family had been in flux since then until the Seidlers announced the team was for sale this past November.
The last sale of an MLB team was the Baltimore Orioles by the family of the late Peter Angelos. David Rubstein bought the club for $1.725 billion on March 27, 2024.
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