It's been a long time coming, but the Padres are finally about to get new bosses. MLB Trade Rumors confirmed the vote is set for next Monday, the last procedural hurdle before José E. Feliciano and Kwanza Jones officially take over as the team's control persons.
This isn't some quiet transaction, either. The deal values the Padres at a record $3.9 billion, blowing past the previous MLB high of $2.42 billion that Steve Cohen paid for the Mets. Feliciano, co-founder of Clearlake Capital and a co-owner of Chelsea FC, and his wife Jones are buying in as private individuals, with Feliciano set to hold controlling interest.
The sale has real historical weight attached to it. Jones would become the first Black woman with majority ownership of an MLB franchise, while Feliciano, who is Puerto Rican, becomes one of the most prominent Latino majority owners in the sport. It's a notable moment for a league that has been slow to diversify its ownership ranks.
The road here started back on May 2 when the Seidler family announced it was selling. Peter Seidler, the longtime control person who poured his own money into building the Padres into a perennial contender, died in November 2023 at 63. His family and the O'Malley family bought the club from John Moores in 2012 for $800 million, meaning this sale represents a nearly five-fold increase in valuation over 14 years.
Monday's vote requires approval from 22 of the other 29 owners, and per reporting, it's expected to be little more than a formality — conducted by conference call and passed unanimously. The sale already cleared MLB's ownership committee and the commissioner's executive council earlier this month.
Once it's rubber-stamped, the Padres officially close the book on the Seidler era and hand the keys to a new group with deep pockets and a fresh mandate. For a fanbase that's watched ownership uncertainty hang over the front office the last few offseasons, getting a resolution — and a record-setting one at that — is a big deal heading into the rest of the year.