Major League Baseball owners have unanimously approved the sale of the San Diego Padres to an investment group led by private equity billionaire José E. Feliciano and his wife and business partner, Kwanza Jones. The league announced the approval on Monday, following an agreement reached in May to purchase the team from the family of the late owner Peter Seidler at an MLB-record valuation of $3.9 billion.
The transaction remains contingent on its official closing in the coming weeks. Commissioner Rob Manfred expressed confidence in Feliciano and Jones, stating, “José and Kwanza understand the unique place the Padres hold in San Diego and the powerful bond between the club and its fans.” He added, “We look forward to their leadership of the Padres and to working with them to build on the club’s strong foundation in a market that is so important to Major League Baseball.”
Seidler's family had announced its intention to explore a sale of the Padres in November, two years after Peter Seidler's death. Feliciano, co-founder of the private equity firm Clearlake Capital, emerged as the Seidler family's preferred buyer. The Padres' CEO Erik Greupner and general manager A.J. Preller are expected to continue overseeing day-to-day operations, according to MLB's announcement.
Feliciano and Jones, in a joint statement, conveyed their enthusiasm for joining the Padres organization. “We are a family first, and becoming owners of the San Diego Padres means joining an even larger one,” they said. “We are grateful to the Seidler family, and especially to Peter, for raising the expectations of what this franchise can achieve. ... Our ambition is clear: to bring a World Series championship to San Diego and build an enduring organization capable of competing for championships year after year. We intend to be engaged owners, bringing our energy, experience and perspective while working alongside the talented team already in place and investing ambitiously and thoughtfully in the Padres’ future. We are all in and committed to winning.”
Under Peter Seidler's ownership, the Padres significantly increased their payroll, enabling the team to achieve a period of success. The club has made four playoff appearances in the last six years and has won at least 89 games in three of the past four seasons, marking the most successful stretch in franchise history. Entering Monday, the Padres had won 17 of their last 22 games and were positioned for an NL wild-card spot with a 67-58 record.
Padres manager Craig Stammen noted that the ownership change would not affect daily operations on the field. “As far as the day-to-day operations, nothing changes for us. We’ve got to go out here and play the games, just like we have all season long,” Stammen said. “The ownership sale has kind of been something that’s been going on throughout the entire year. It doesn’t really affect the play on the field, but we’re excited to have José and Kwanza a part of the Padres and can’t wait to welcome them.”
Minority partners in the new ownership group include Joey and Jesse Buss, sons of the former Los Angeles Lakers owner Jerry Buss. This development coincides with the Buss siblings' decision earlier Monday to sell their remaining minority ownership stake in the Lakers.
Feliciano, who was born in Puerto Rico, becomes the second Latino principal owner in Major League Baseball, joining Arte Moreno of the Los Angeles Angels. Latino and Hispanic players constitute approximately 30% of MLB rosters.
Feliciano and Jones are scheduled to hold an introductory news conference at Petco Park on August 24.