Padres Sale Baseball

The San Diego Padres have reached an agreement to sell control of the team to an investor group led by Kwanza Jones and José E. Feliciano. The family of late owner Peter Seidler formally announced the deal Saturday. The sale must still be approved by Major League Baseball. The deal with private equity billionaire Feliciano and his wife took shape last month at an MLB-record valuation of $3.9 billion. The Padres’ announcement of the deal didn’t give specifics on the members of the investor group or the purchase price. Seidler’s family began to explore a sale of the Padres last November, two years after the death of the popular Peter Seidler, who became the Padres’ primary owner in 2020.