Padres Close to Record Sale to Feliciano Group for About $3.9B
The Seidler family is nearing a deal to sell the San Diego Padres to a Feliciano-led group that includes Kwanza Jones for roughly $3.9 billion, a record price for a major league franchise. Finalists also included groups led by Joe Lacob, Tom Gores and Dan Friedkin, with an official announcement possible next week pending MLB approval from 75% of owners and the net debt to be factored in (about $300 million). The sale would cap a turbulent era since Peter Seidler’s passing, and could influence payroll strategy and upcoming labor talks.