Padres reach deal to sell to Jones-Feliciano group...
Key takeaways
- The San Diego Padres have reached an agreement to sell control of the team to an investor group led by Kwanza Jones and José E.
- The family of late owner Peter Seidler formally announced the deal Saturday.
- The deal with private equity billionaire Feliciano and his wife took shape last month at an MLB-record valuation of $3.9 billion.
Why this matters: a sports story that could shift standings, legacies, or fan conversations.
The San Diego Padres have reached an agreement to sell control of the team to an investor group led by Kwanza Jones and José E. Feliciano.
The family of late owner Peter Seidler formally announced the deal Saturday. The sale must still be approved by Major League Baseball.
The deal with private equity billionaire Feliciano and his wife took shape last month at an MLB-record valuation of $3.9 billion. The Padres' announcement of the deal didn't give specifics on the members of the investor group or the purchase price, but a source told ESPN's Alden Gonzalez that Feliciano and Jones are expected to have about a 40% equity stake in the team. The Seidler family will retain some equity stake in the team.