Printer-friendly version
Photo courtesy San Diego Padres Facebook page
East County News Service
April 20, 2026 (San Diego) — The current owners of the San Diego Padres, the Seidler family, are reportedly in the final stages of an agreement to sell the team to a group led by private equity billionaire José E. Feliciano and his wife, musician and investor Kwanza Jones, for a reported $3.9 billion.
If finalized and approved by Major League Baseball as expected, the transaction will represent the highest sale price in MLB history, shattering the previous record of $2.4 billion set in 2020 by Steve Cohen when he bought the New York Mets.
The $3.9B figure comes after a competitive five-month bidding process that picked up steam after the settlement in February of a lawsuit involving Sheel K. Seidler, the widow of the Padres' late chairman, Peter Seidler. That legal resolution cleared the path for the Seidler estate -- represented by Peter’s brother, John Seidler -- to divest the family’s majority stake.
Feliciano is co-founder of Santa Monica-based investment firm Clearlake Capital, and reportedly outbid three other finalists: Joe Lacob, owner of the Golden State Warriors; Tom Gores, owner of the Detroit Pistons; and Dan Friedkin -- a native San Diegan and grandson of PSA founder Kenny Friedkin -- who owns the AS Roma soccer club and heads The Friedkin Group.
The sale talks coincide with a strong start for the 2026 Padres. Under new manager Craig Stammen, the Padres have won 13 of their last 15 games and are 15-7 -- just a half-game behind the Los Angeles Dodgers in the National League West.
The value, the future, and the past
While financial analysts at Forbes and Sportico recently put the team’s value between $1.9 billion and $2.3 billion, the final bid suggests a premium likely driven by Petco Park’s real estate potential in downtown San Diego.
The financial trajectory of the Padres has been steep. When the group led by Ron Fowler and the Seidler family with Peter, Kevin and Brian O’Malley purchased the Padres from John Moores in 2012, the price was about $600 million.
Though a deal is nearing its conclusion, several administrative and league hurdles remain before Feliciano and Jones can take ownership.
MLB's ownership committee must first vet the buyers' financial records, background and debt-to-equity ratios. Then the committee must make a recommendation to the MLB Executive Council. Following that, the deal requires a 3/4 majority vote (23 out of 30) from the other MLB owners.
Additionally, Feliciano must be formally designated as the "Control Person," making him the primary point of contact for the league on all team matters.
Feliciano's firm Clearlake Capital manages more than $70 billion in assets. The company co-led the $5.3 billion acquisition of Chelsea FC in 2022.
Kwanza Jones, his wife and business partner, has a J.D. degree from Benjamin N. Cardozo School of Law (Yeshiva University) and is the founder of the Kwanza Jones & José E. Feliciano Initiative, a philanthropic organization.
Since its inception as an expansion team in 1969, the Padres have seen several distinct eras of leadership: C. Arnholt Smith 1969-1974; Ray Kroc 1974-1984; Joan Kroc 1984-1990; Tom Werner 1990-1994; John Moores 1994-2012; Jeff Moorad 2009-2012; Ron Fowler/Peter Seidler 2012-2020; Peter Seidler 2020-2023; and John Seidler/Estate 2023-current.
Recent comments