Padres Nearing $3.9 Billion Sale to Feliciano, Jones

The San Diego Padres are on the verge of a record-breaking sale to private equity billionaire José E. Feliciano and his wife, Kwanza Jones, for approximately $3.9 billion, according to reports from sources close to the negotiations. The deal, which would surpass the previous Major League Baseball franchise sale record of $2.4 billion set by Steve Cohen's purchase of the New York Mets in 2020, is expected to be announced early next week.

The transaction marks the end of the Seidler family's ownership of the Padres, which began in 2012 when a group including Peter Seidler acquired the team for $800 million. Peter Seidler became the majority owner in 2020 and transformed the franchise into a consistent contender through aggressive spending, pushing the payroll to a franchise-high $249 million in 2023. Following his death in November 2023 at age 63, the team faced internal family disputes. His widow, Sheel Seidler, sued brothers-in-law Matthew and Robert Seidler in January 2025, alleging breaches of fiduciary duty and self-dealing in an effort to block brother John Seidler from assuming control. The claims were settled out of court later that year, and John Seidler was approved as...