San Diego Padres sale set for final MLB owners vote

Major League Baseball owners are scheduled to vote this coming Monday on the sale of the San Diego Padres. The transaction, which is expected to be a formality, requires approval from at least 22 of the 30 owners to finalize the transfer of majority control.

The franchise is being sold at a record valuation of $3.9 billion. José E. Feliciano, co-founder of Clearlake Capital Group and co-owner of Chelsea FC, and his wife, Kwanza Jones, are expected to acquire a controlling interest estimated to be between $1.7 billion and approximately 45% of the team. Some members of the Seidler family and existing minority investors are expected to remain shareholders.

The sale follows the decision by the Seidler family to sell the team, a process that began after the death of former control person Peter Seidler in November 2023. The Seidler and O’Malley families had previously owned the team since purchasing it from John Moores in 2012 for $800 million.