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The San Diego Padres are expected to change ownership soon.
On Saturday, the MLB franchise reached a deal to sell a majority 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 makes up the Padres’ current ownership group, confirmed the deal. The decision to get rid of the team comes three years after Seidler’s death. John Seidler has been president of the Padres since his brother’s death.
The deal will only become official after receiving approval from the league. Last month, it was revealed that the Padres were valued at $3.9 billion. Although no sale price was 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 acquisition of the New York Mets in 2020 for $2.42 billion.
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Manny Machado of the San Diego Padres, 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 Ramírez)
Other members of the investor group have not been named. In a joint statement, Jones and Feliciano “are a unifying force” in San Diego and committed to building on the franchise’s foundation.
HERE’S WHAT THE SAN DIEGO PADRES’ RECORD MEANS A $3.9 BILLION SALE 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 a family, we are honored to lead this next chapter together. We have worked hard for everything we have accomplished and 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 to earn the trust of this community while building on the solid foundation established by the Seidler family.”
The group added that its commitment encompasses both success on the ground and meaningful impact in the community.
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. (Photos by Rob Leiter/MLB via Getty Images)
“It’s about more than baseball: it’s about building the pride, energy and connection that define the Padres, investing in the community, deepening belonging and ensuring this team remains accessible and endures for generations. We are all in this together to bring 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 support of general manager AJ Preller.
The Padres are the only San Diego team in all four major North American sports leagues, ranking second in MLB last season.
San Diego Padres players sing 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 hot start, sitting in second place in the NL West with a 19-13 record heading into Sunday afternoon’s finale of a three-game series against the Chicago White Sox. The team has made the playoffs in four of the last six seasons.
Feliciano is poised to become baseball’s second Latino owner, joining Los Angeles Angels owner Arte Moreno.
