Major League Baseball (MLB) owners have given their full backing to the sale of the San Diego Padres. The deal hands control of the franchise to a group led by private equity billionaire Jose E. Feliciano and his wife and business partner Kwanza Jones.
Unanimous vote seals historic transaction
The league confirmed that team owners voted unanimously to approve the purchase. Jose Feliciano and Kwanza Jones struck an agreement in May to buy the club from the family of the late owner Peter Seidler. The transaction carries an MLB-record valuation of $3.9 billion. Official closing is still expected in the coming weeks.
“Jose and Kwanza understand the unique place the Padres hold in San Diego and the powerful bond between the club and its fans,” MLB commissioner Rob Manfred said in a statement. “We look forward to their leadership of the Padres and to working with them to build on the club’s strong foundation in a market that is so important to Major League Baseball.”
Feliciano, 53, co-founded the Santa Monica private equity firm Clearlake Capital. He and Jones emerged as the preferred buyers after the Seidler family announced last November that it would explore a sale. That decision came two years after Peter Seidler’s death at age 63.
Continuity on the baseball side
San Diego Padres CEO Erik Greupner and general manager AJ Preller will stay in their roles and continue running day-to-day operations, according to the league. The new ownership group has made clear it plans to work closely with the existing staff.
“We are a family first, and becoming owners of the San Diego Padres means joining an even larger one,” Jones and Feliciano said in a statement. “We are grateful to the Seidler family, and especially to Peter, for raising the expectations of what this franchise can achieve… 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. We intend to be engaged owners, bringing our energy, experience and perspective while working alongside the talented team already in place and investing ambitiously and thoughtfully in the Padres’ future.
“We are all in and committed to winning.”
Peter Seidler’s lasting impact
Peter Seidler first joined the ownership group in 2012 and took majority control in 2020. He became a fan favourite for his willingness to spend heavily and his open connection with the community. Under his leadership, the Padres raised payroll, reached the postseason four times in six years, and posted at least 89 wins in three of the past four seasons, the most successful stretch in franchise history.
San Diego is again in the thick of the playoff race this year. The team sits at 67-58 after winning 17 of its last 24 games and currently holds an NL wild-card spot.
Manfred also thanked the Seidler family, including John Seidler, who served as chairman after his brother’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.
New owners already connected
Feliciano, born in Puerto Rico, will become the second Latino principal owner in the majors alongside the Los Angeles Angels’ Arte Moreno. Latino and Hispanic players make up roughly 30 percent of major-league rosters. Jones and Feliciano have already been seen at Padres games in San Diego and Mexico City. They have described the club as “a unifying force in San Diego, rooted in community, connection and belonging.”
The Padres have never won a World Series, yet the franchise remains highly attractive. Petco Park ranks among the liveliest venues in baseball, and the team finished second in MLB attendance last season.