Major League Baseball team owners have approved the transfer of ownership of the San Diego Padres to an investment group led by José E. Feliciano and his wife, Kwanza Jones. The league announced this decision following a vote on Monday. Feliciano and Jones agreed in May to buy the team from the family of the late owner Peter Seidler, marking a record valuation for the Padres at $3.9 billion. The agreement depends on the deal officially closing in the weeks ahead.
Commissioner Rob Manfred commented, “José and Kwanza understand the unique place the Padres hold in San Diego and the powerful bond between the club and its fans.” He expressed anticipation for their leadership and collaboration in strengthening the club’s foundation.
The Seidler family initiated the sale process last November, almost two years after Peter Seidler’s passing. Feliciano, a co-founder of Clearlake Capital in Santa Monica, quickly became the preferred choice for the Seidler family.
Per MLB’s announcement, current Padres CEO Erik Greupner and general manager A.J. Preller will continue overseeing day-to-day operations. Jones and Feliciano expressed their commitment by stating, “Joining the San Diego Padres family signifies a larger commitment to the community. We are grateful to the Seidler family, especially Peter, for elevating the franchise’s aspirations. Our goal is to win a World Series and maintain an organization that competes consistently.” They intend to remain active owners and are committed to investing in the team’s future.
Peter Seidler, who took majority control in 2020, was known for improving the team’s financial stance. Under his leadership, the team increased its payroll and made significant playoff runs, appearing in the postseason four of the last six years. This includes winning at least 89 games in three of the last four seasons, considered the most successful period in franchise history.
Presently, the Padres are competing for a playoff spot, having won 17 of their last 22 games. As Padres manager Craig Stammen stated, day-to-day operations will remain unchanged. He noted the continuous nature of the ownership sale process and expressed excitement about Feliciano and Jones joining the team.
The new ownership group includes minority partners Joey and Jesse Buss, sons of former Los Angeles Lakers owner Jerry Buss. Interestingly, the Buss siblings finalized the sale of their remaining stake in the Lakers earlier on the same day.
Feliciano and Jones have commended the Padres as a significant community presence in San Diego. They have been seen attending games in San Diego and Mexico City.
Padres outfielder Jackson Merrill said, “We trust in the new owners’ vision for the team, as they trust us on the field.” He looks forward to the future with confidence.
Despite having never won a World Series, the Padres draw significant attention due to their market size. San Diego is a metropolitan area of about 3.3 million people. Petco Park in downtown San Diego is renowned for its vibrant atmosphere, and the Padres ranked second in MLB attendance last season.
Feliciano, born in Puerto Rico, becomes only the second Latino principal owner in Major League Baseball, alongside Arte Moreno of the Los Angeles Angels. Latino and Hispanic players makeup around 30% of MLB rosters. A press conference is scheduled for August 24 at Petco Park to introduce Feliciano and Jones as the new owners.
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