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Padres announce agreement to sell team to investor group led by Kwanza Jones and José E. Feliciano
The deal values the Padres at an MLB-record $3.9 billion and still needs league approval, officials said.
- On Saturday, the San Diego Padres announced the franchise's sale to an investor group led by Kwanza Jones and José E. Feliciano. The deal, valued at an MLB-record $3.9 billion, awaits final approval from Major League Baseball.
- Following the death of popular owner Peter Seidler, the Seidler Family initiated the sale process last November, about two years after his passing. Padres Chairman John Seidler has overseen the franchise since that time.
- Jones and Feliciano are expected to hold about 40% equity stake in the team. This deal surpasses the New York Mets' $2.4 billion sale in 2020, marking the most expensive transaction in Major League Baseball history.
- The Padres announced the team "will continue to operate in the ordinary course throughout the MLB approval process." No changes to day-to-day business operations will result from Saturday's announcement.
- Feliciano becomes the second Latino owner in baseball, joining Los Angeles Angels owner Arte Moreno. The ownership group stated their "goal of bringing a World Series championship to San Diego.
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Padres announce agreement to sell team to investor group led by Kwanza
The San Diego Padres have reached an agreement to sell control of the team to an investor group led by Kwanza Jones and José E. Feliciano. The family of late owner Peter Seidler formally announced the deal
·Baltimore, United States
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Jackson Progress-Argus+5 Reposted by 5 other sources
Padres announce agreement to transfer ownership to Jones-Feliciano group
The San Diego Padres announced on Saturday an agreement to transfer control of the franchise to a new ownership group led by investors Kwanza Jones and Jose E. Feliciano, who reportedly had bid a record $3.9 billion.
·Jackson, United States
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Total News Sources67
Leaning Left20Leaning Right7Center22Last UpdatedBias Distribution45% Center
Bias Distribution
- 45% of the sources are Center
45% Center
L 41%
C 45%
14%
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