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Seidler Family

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business3 hours ago•5 min saved

Padres to cede control to Jones-Feliciano ownership group

The San Diego Padres announced a definitive agreement for the Seidler family to transfer control to a Jones–Feliciano group, which is expected to own about 60% of the franchise in a $3.9 billion deal; MLB approval (75% of owners) is required at upcoming meetings. Minority investors may include the Jacobs family and the Sycuan Band, with other potential partners discussed. The transition will be managed by current leaders while Feliciano and Jones pledge to lead San Diego toward a World Series title and to maintain daily operations during the approval process.

via The New York Times|

#business #jones-feliciano #mlb-approval

sports10 hours ago•19 min saved

Padres poised for new era under Feliciano and Jones ownership

The Seidler family announced a definitive agreement to transfer control of the San Diego Padres to a group led by José E. Feliciano and Kwanza Jones, who will run the club as equal partners. Feliciano will serve as control person once the sale is finalized, with about 40% of the team owned by the new group; several existing investors, including Alfredo Harp Helú, retain stakes. The sale still requires MLB owner approval (a three-quarters vote) and is expected to be finalized around the next MLB owners meeting in June. The new ownership group has pledged community engagement and a World Series pursuit for San Diego.

via San Diego Union-Tribune|

#feliciano #kwanza-jones #ownership-transfer

business15 days ago•25 min saved

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.

via MLB Trade Rumors|

#business #franchise-valuation #jose-feliciano