MLB Approves $3.9 Billion Sale of Padres to Feliciano and Jones

Major League Baseball owners unanimously approved the sale of the San Diego Padres to a new ownership group led by billionaire José E. Feliciano and his wife and business partner, Kwanza Jones, on Monday, August 17, 2026. The approval clears the final major hurdle for the record-setting $3.9 billion transaction, which is expected to close in the coming weeks.

The league announced the vote, with Commissioner Rob Manfred stating that Feliciano and Jones "understand the unique place the Padres hold in San Diego and the powerful bond between the club and its fans." The sale price is the highest ever for an MLB franchise, shattering the previous record of $2.4 billion paid for the New York Mets in 2020.

Feliciano, co-founder of private equity firm Clearlake Capital, and Jones emerged as the winning bidder in April after a competitive process. They are purchasing the team from the family of the late Peter Seidler, who passed away in November 2023. The Seidler family had announced its intention to explore a sale in late 2025. The franchise was originally purchased by a group including Seidler for $800 million in 2012.

In a joint statement, the new owners said, "We are a family first,...