MLB owners unanimously approve Padres sale to José E. Feliciano and Kwanza Jones
The New York Times • • sports
Key Points:
- Major League Baseball owners unanimously approved José E. Feliciano and Kwanza Jones as the new majority owners of the San Diego Padres, concluding a purchase process that began in April at a record $3.9 billion valuation.
- Feliciano and Jones, a husband-wife duo, are acquiring over 40% of the franchise, with other investors including longtime minority owner Alfredo Harp Helú and Joey and Jesse Buss joining at smaller stakes.
- The new ownership group aims to bring a World Series championship to San Diego and build a competitive, enduring organization, pledging active engagement and significant investment in the team's future.
- Feliciano, co-founder of Clearlake Capital and co-controlling owner of Chelsea FC, will serve as the Padres' control person, while Jones is CEO of Supercharged and co-founder of a philanthropic investment initiative.
- The sale sets a new MLB franchise valuation record, surpassing the previous $2.4 billion Mets sale in 2020, reflecting the Padres' strong revenue despite being in a smaller media market, and follows the Seidler family's stewardship since 2012.
