The San Diego Padres are getting close to a deal to be sold, with a pricetag that is sure to make even the wealthiest owners blush.
According to the Wall Street Journal, the Padres are nearing a deal to be sold for a record $3.9 billion to private-equity billionaire José E. Feliciano and his wife Kwanza Jones.
This would be the highest valuation ever for a Major League Baseball franchise, nearly $1.5 billion higher than the$2.4 billion Mets owner Steve Cohen purchased the team forback in 2020.
The deal is expected to be announced early next week, and the ownership group outbid others such as Golden State Warriors owner Joe Lacob and businessman Dan Friedkin, whose offers were somewhere in the ballpark of $3.5 billion.
The Padres have been owned by the Seidler family since 2012, but after the passing of Pete Seidler in 2023, the franchise went on the market.
Feliciano and his ownership group will be inheriting a great situation in San Diego from a baseball perspective.
The Padres own one of the best records in the Majors this season, and have made the playoffs three of the last four seasons.
They have also finished top-five in attendance each of the last five seasons, and have one of the more exciting lineups in baseball, featuring stars such as Manny Machado, Xander Bogaerts, and Fernando Tatis Jr, among others.
Selling excitement to the fanbase won't be an issue for this new group of owners, it will be all about taking the next step towards becoming a championship franchise.
For as good and consistent as the Padres have been in recent years, they still have to get over the hump and make it to a World Series.
Source: The Latest & Most Breaking News With OutKick
