San Diego Padres Near Record $3.9 Billion Sale to Feliciano and Jones
The San Diego Padres are nearing a sale for a record $3.9 billion to Jose Feliciano and Kwanza Jones. The deal, which tops the previous MLB record, requires approval from league owners. It follows the death of former owner Peter Seidler and could influence other team sales like the Los Angeles Angels.
Los Angeles Times9 billion, setting a new record for an MLB franchise sale, according to sources confirmed by ESPN and the Wall Street Journal. The buyers are Jose Feliciano, co-founder and managing partner of Clearlake Capital, and his wife Kwanza Jones. 4 billion, paid by Steve Cohen for the New York Mets in 2020.
Sale Details and Approval Process
The sale must be approved by 75% of Major League Baseball's owners, with the next owners' meetings scheduled for June.
Feliciano will be designated as the controlling owner. Clearlake Capital, based in Santa Monica, California, manages more than $90 billion in assets. 2 billion. The bidders included Golden State Warriors owner Joe Lacob, according to The Athletic.
Background on Padres
Ownership The family of late owner Peter Seidler put the Padres up for sale in November, ending a 14-year ownership tenure that began in 2012 with a purchase price of $800 million.
Peter Seidler assumed more control and built the team into a competitive force. , Jackson Merrill, Xander Bogaerts, Joe Musgrove, and Yu Darvish. The Padres have made the playoffs three of the past four years and are currently on an eight-game winning streak.
They have the second-best record and second-highest attendance in the major leagues as of Friday, behind the Dodgers.
Financial and Market Context
The sale price reflects the appeal of a Southern California franchise in a market without other major professional sports teams.
Petco Park has become a year-round events center, setting attendance records. The Padres have operated without a local media contract since the early part of the 2023 season. MLB hopes to centralize local media, which could ease those concerns.
Implications for Other Teams
The record sale could impact the Los Angeles Angels, where owner Arte Moreno has considered selling for $4 billion.
The Angels play in a 60-year-old stadium needing renovation or replacement, with past development deals collapsing. A bill in the state legislature could loosen development restrictions on the Angels' stadium property if the team adopts the Anaheim Angels name. Potential buyers for the Angels include Golden State Warriors owner Joe Lacob, though interest from others has been denied.
The Angels are one-half game out of first place in the American League West entering Friday. Moreno turns 80 this summer and may wait until after the next collective bargaining agreement to decide on a sale.
Team Performance and Legacy Under
Peter Seidler, the Padres spent to win, making the playoffs four times in the past six years after only five times in their first 51 years.
“We would like to see somebody with ties to San Diego, a deep love of San Diego, and who grew up with baseball, so that they can continue doing the work that we do in the community and providing a product on the field that the fans enjoy.”
Feliciano is a native of Puerto Rico who began his career at Goldman Sachs. The sale represents a significant valuation increase from the 2012 purchase.
Story Timeline
6 events- Apr 17, 8:53 PM ET
1 new source added: The Guardian
1 sourceThe Guardian - Today — Apr 17, 2026
The Wall Street Journal reported the Padres are nearing a $3.9 billion sale to Jose Feliciano and Kwanza Jones.
2 sourcesLos Angeles Times · ESPN - November 2023
Peter Seidler died, triggering a legal battle over team control and eventual sale exploration.
2 sourcesLos Angeles Times · ESPN - Early 2023
Padres began operating without a local media contract, leading to falling revenues.
1 sourceESPN - 2022
Feliciano and Todd Boehly led the purchase of Chelsea for $5.2 billion.
2 sourcesLos Angeles Times · ESPN - 2012
Group including Peter Seidler purchased the Padres for $800 million.
2 sourcesLos Angeles Times · ESPN
Potential Impact
- 01
MLB owners will vote on the Padres sale approval in June.
- 02
Arte Moreno will likely proceed with Angels sale negotiations post-CBA.
- 03
New owners will invest in Padres to maintain high payroll and competitiveness.
- 04
The record price strengthens the players' union position against salary cost controls.
- 05
Potential buyers like Joe Lacob may bid on Angels following Padres deal.
- 06
Centralized MLB media by 2028 will boost Padres revenues.
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