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The San Diego Padres are expected to come under new ownership soon.
On Saturday, the MLB franchise agreed to sell a controlling stake in the team to an investor group led by Puerto Rican businessman José E. Feliciano and his wife, Kwanza Jones.
The family of late owner Peter Seidler, who make up the Padres’ current ownership group, confirmed the deal. The decision to disband the team comes three years after Seidler’s death. John Seidler has served as the Padres’ chairman since his brother’s death.
The deal won’t become official until it receives league approval. Last month, it was revealed that the Padres have a valuation of $3.9 billion. Although a sale price was not specified in the announcement, given the valuation, the transaction is expected to set a record for the highest price paid for an MLB franchise, surpassing Steve Cohen’s 2020 acquisition of the New York Mets for $2.42 billion.
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San Diego Padres’ Manny Machado, left, acknowledges the crowd after hitting a single, his 2,000th career hit, during the fourth inning of a baseball game against the Arizona Diamondbacks, Monday, July 7, 2025, in San Diego. (AP Photo/Orlando Ramirez)
Other members of the investor group were not named. In a joint statement, Jones and Feliciano “a unifying force” in San Diego and committed to building on the foundation of the franchise.
HERE’S WHAT SAN DIEGO PADRES-RECORD 3.9 BILLION SALES MEAN FOR MAJOR LEAGUE BASEBALL
“The Padres are more than a baseball team; they are a unifying force in San Diego, rooted in community, connection and belonging. As life and business partners and as family, we are honored to lead this next chapter together. We’ve worked hard for everything we’ve achieved and we’ve built it together. We see the same spirit in this team and its fans, and we know what it takes to win and serve to win and serve. this community while building on the strong foundation established by the Seidler family.”
The group added that its commitment includes both on-field success and meaningful community impact.
A general view of Petco Park during the game between the Detroit Tigers and the San Diego Padres on March 26, 2026 in San Diego, California. (Rob Leiter/MLB Images via Getty Images)
“This is about more than baseball – it’s about boosting the pride, energy and connection that defines the Padres, investing in the community, deepening the sense of belonging and ensuring this team remains accessible and lasts for generations. We’re all in it – with the goal of bringing a World Series championship to San Diego.”
Peter Seidler joined the Padres’ ownership group in 2012 when John Moores sold the team for $800 million to a group led by Ron Fowler. Seidler took over and immediately endeared himself to San Diego fans with his aggressive financial backing from general manager AJ Preller.
The Padres have been a hot ticket for several years as San Diego’s only team in the four major North American sports leagues to finish second in MLB last season.
San Diego Padres players stand for the national anthem before Opening Day against the Detroit Tigers at Petco Park in San Diego, California on March 26, 2026. (Meg McLaughlin/The San Diego Union-Tribune)
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The Padres are off to a strong start, sitting second in the NL West at 19-13 entering Sunday afternoon’s finale of a three-game series against the Chicago White Sox. The team has reached the playoffs in four of the past six seasons.
Feliciano is on pace to become the second Latino owner in baseball, joining Los Angeles Angels owner Arte Moreno.
