Padres reach deal to sell to group led by Kwanza Jones, José E. Feliciano
The San Diego Padres have reached an settlement to sell management of the group to an investor group led by Kwanza Jones and José E. Feliciano.
The household of late proprietor Peter Seidler formally introduced the deal Saturday. The sale should nonetheless be accepted by Major League Baseball.
The deal with non-public fairness billionaire Feliciano and his spouse took form final month at an MLB-record valuation of $3.9 billion. The Padres’ announcement of the deal did not give specifics on the members of the investor group or the acquisition value, however a supply instructed ESPN’s Alden Gonzalez that Feliciano and Jones are anticipated to have a few 40% fairness stake within the group. The Seidler household will retain some fairness stake within the group.
“The Padres are more than a baseball team; they are a unifying force in San Diego, rooted in community, connection and belonging,” Jones and Feliciano stated in a joint assertion. “As life and business partners, and as a family, we are honored to lead this next chapter together. We have worked hard for everything we have achieved, and we have built it together. We see that same spirit in this team and its fans, and we know what it takes to win. We are committed to showing up, listening and earning the trust of this community while building on the strong foundation established by the Seidler family.
“This is about greater than baseball — it is about boosting the delight, power, and connection that defines the Padres, investing in neighborhood, deepening belonging and guaranteeing this group stays accessible and endures for generations. We are all in — with the purpose of bringing a World Series championship to San Diego.”
Seidler’s family began to explore a sale of the Padres last November, two years after the death of the popular Peter Seidler, who became the Padres’ primary owner in 2020. His brother, John Seidler, has served as the Padres’ chairman since his death.
“When I grew to become management individual, my purpose was to proceed constructing on our current success in pursuit of a World Series championship for town of San Diego and our devoted followers,” John Seidler said in a statement. “As I move the baton to Kwanza and José, I accomplish that with full confidence that they share that imaginative and prescient in addition to the Padres’ deep dedication to San Diego. It’s what the group, our followers and the neighborhood deserve. Our household loves this group.”
Peter Seidler joined the Padres’ ownership group in 2012 when John Moores sold the team for $800 million to a group headed by Ron Fowler. Seidler took over and immediately endeared himself to San Diego’s fans with his aggressive financial backing of general manager AJ Preller, who built a team that has reached the playoffs in four of the past six years.
The Padres have been a hot ticket for several years as San Diego’s only team in the four biggest North American sports leagues, ranking second in the majors in attendance last season. Preller’s roster is off to another strong start this season, sitting second in the NL West at 19-12 heading into a home game against the Chicago White Sox on Saturday night.
Jones and Feliciano already got a start on their new endeavor last month when they traveled to Mexico City to watch the Padres’ international series against the Arizona Diamondbacks. The couple was spotted sitting with Padres CEO Erik Greupner.
Feliciano will become the second Latino owner in baseball, joining Los Angeles Angels proprietor Arte Moreno. Latino and Hispanic gamers comprise roughly 30% of main league rosters.
Information from The Associated Press was used on this report.
