Friday morning, news broke that theSan Diego Padresorganization had officially been sold. And that news effectively ended much of the debate, disagreement, and complaints about the market size disparities in modernMajor League Baseball.
For over a decade, the Seidler family, primarily the late Peter Seidler, owned and operated the Padres. And they turned a perennially bottom-feeding franchise into a juggernaut. How? By treating a competitive sport like a competitive sport, and investing heavily in the on-field product.
Now? It's been sold to billionaire José E. Feliciano and his wife Kwanza Jones, owners of the English Premier League team Chelsea. For a staggering, and record-setting $3.9 billion.
RELATED:San Diego Padres To Be Sold For Record $3.9 Billion Deal
Nearly $4 billion for a team located in one of the smallest markets in Major League Baseball. A team that's never once won a World Series, and hasn't won the National League West in quite literally 20 years. That team sold for $4 billion. Just six years ago, Steve Cohen bought theNew York Metsfor $2.4 billion.
The New York Mets. In New York City. The largest media market in the country. And the Padres just sold for 63% more, six years later. This is why all the whining and complaining from small market teams across the sport is manipulative nonsense.
SAN DIEGO, CALIFORNIA - MARCH 28: Mason Miller #22 of the San Diego Padres reacts during the ninth inning against the Detroit Tigers at Petco Park on March 28, 2026 in San Diego, California. (Photo by Orlando Ramirez/Getty Images)
What makes this price even more stunning is that the Padres currently do not have a television deal with a regional sports network. While much of the focus and criticism of theLos Angeles Dodgers'spending habits rests on their agreement with Spectrum, Padres games are produced exclusively by MLB.
Fubo and DirecTV+ carry the Padres "channel," but for most fans, they are forced into buying the team's package of games through MLB.tv. And they're still worth $3.9 billion.
How can this be, when teams like the Pirates and Marlins relentlessly cry poor, despite raking in huge amounts of revenue sharing dollars? The Marlins even play in a significantly larger market than the Padres. San Diego County has roughly 3.4 million people, while the Miami metropolitan area has 6.4 million. Yet the Padres can routinely run payrolls at or above $200 million, while the Marlins spend under $100 million. Why?
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