MLB Approves Sale of San Diego Padres to José E. Feliciano and Kwanza Jones

Major League Baseball’s team owners have unanimously approved the sale of the San Diego Padres to an investor group led by private equity billionaire José E. Feliciano and his wife, Kwanza Jones. This approval came after a vote announced on Monday.

Feliciano and Jones reached an agreement earlier in the year to purchase the Padres from the family of the late owner Peter Seidler. The valuation of the deal stands at an MLB record of $3.9 billion. However, the agreement is still pending the official closing of the transaction in the upcoming weeks.

Commissioner Rob Manfred expressed enthusiasm for the new ownership, stating, “José and Kwanza understand the unique place the Padres hold in San Diego and the powerful bond between the club and its fans. 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.”

The Seidler family initially signaled their intention to sell the Padres last November, two years following Peter Seidler’s passing. Feliciano emerged as the favored choice by the Seidler family to lead the team forward. Padres CEO Erik Greupner and General Manager A.J. Preller will continue to oversee the team’s daily operations.

José E. Feliciano, 53 years old, co-founded the Santa Monica-based private equity firm Clearlake Capital. He stated, “We are a family first, and becoming owners of the San Diego Padres means joining an even larger one.” Feliciano and Jones aim to bring a World Series championship to San Diego and continue building a competitive, enduring organization.

Peter Seidler took majority control of the Padres in 2020, after initially joining their ownership group in 2012. He gained admiration in San Diego due to his financial dedication to the team’s success and engaging with fans. Under his leadership, the Padres’ payroll significantly increased, resulting in noteworthy playoff appearances and success over recent seasons.

“As far as the day-to-day operations, nothing changes for us,” Padres Manager Craig Stammen noted. “We are excited to have José and Kwanza join the Padres and can’t wait to welcome them.”

The new ownership group includes Joey and Jesse Buss, sons of former Los Angeles Lakers owner Jerry Buss. Earlier the same day, the Buss siblings decided to sell their minority ownership stake in the Lakers.

José E. Feliciano, originally from Puerto Rico, becomes the second Latino principal owner in MLB, alongside Arte Moreno of the Los Angeles Angels. With Hispanic and Latino players making up about 30% of MLB rosters, this development underscores the diversity in ownership representation.

Feliciano and Jones plan to hold an introductory news conference at Petco Park. Their involvement in team events has been evident, including appearances in San Diego and Mexico City.