Padres Sale Is Official: MLB Owners Unanimously Green-Light Record-Breaking $3.9 Billion Era
San Diego, CA — The check cleared. The votes are in. And the Padres are officially starting a new chapter.
MLB team owners unanimously approved the sale of the San Diego Padres on Monday to an investor group led by private equity billionaire José E. Feliciano and his wife and business partner, Kwanza Jones.
The deal — struck back in May with the family of late owner Peter Seidler — comes with an MLB-record valuation of $3.9 billion. That's not just a new owner. That's a statement.
A New Reign in America's Finest City
Commissioner Rob Manfred didn't mince words about the significance of the moment.
"José and Kwanza understand the unique place the Padres hold in San Diego and the powerful bond between the club and its fans," Manfred said. "We look forward to their leadership of the Padres and to working with them to build on the club's strong foundation."
The Seidler family signaled they were ready to explore a sale last November — two years after Peter Seidler's death. Feliciano, co-founder of Santa Monica-based Clearlake Capital, emerged from the pack as the family's pick. Now, it's official.
But here's the thing: The front office isn't getting blown up. Erik Greupner stays as CEO. A.J. Preller stays as GM. The baseball brain trust remains intact.
“All In” Means All In
Jones and Feliciano came out swinging in their first statement as incoming owners.
"We are a family first, and becoming owners of the San Diego Padres means joining an even larger one," they said. "Our ambition is clear: to bring a World Series championship to San Diego and build an enduring organization capable of competing for championships year after year."
Then came the part Padres fans have been waiting to hear:
"We are all in and committed to winning."
Carrying Peter's Legacy
Peter Seidler took majority control in 2020 and instantly became a fan favorite — not because of flash, but because of his relentless, wallet-open devotion to winning. He died in November 2023 at 63. But the foundation he built is still standing tall.
The Padres have made the playoffs four times in the last six years. They've won at least 89 games in three of the last four seasons. And right now, they're 67-58 after winning 17 of their last 24 — currently holding an NL wild-card spot.
Manfred made sure to shout out the Seidler family, including John Seidler, who stepped in as chairman after Peter's passing.
"Continuing the legacy established by the late Peter Seidler, the Padres reached the postseason four times in the last six years, energized one of baseball's most passionate fanbases and strengthened the club's role as a cornerstone of the San Diego community," Manfred said.
More Than a Purchase — A Movement
Feliciano, born in Puerto Rico, becomes just the second Latino principal owner in MLB, joining the Angels' Arte Moreno. That matters in a league where Latino and Hispanic players make up roughly 30% of rosters.
The Padres have never won a World Series. But with Petco Park rocking, attendance ranking second in the majors last season, and an ownership group promising to invest "ambitiously and thoughtfully," the vibes in San Diego are dangerously good.
Get ready. Feliciano and Jones will officially introduce themselves at Petco Park on Monday, Aug. 24.
The message is simple: San Diego is no longer just a contender. It's a destination. And the World Series chase just got personal.