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The San Diego Padres are expected to be under new ownership soon.
On Saturday, the MLB franchise reached an agreement to sell a controlling interest in the team to a group of investors led by Puerto Rican businessman José E. Feliciano and his wife, Kwanza Jones.
The family of late owner Peter Seidler, part of the Padres’ current ownership group, confirmed the deal. The decision to release the team comes three years after Seidler’s death. John Seidler has served as chairman of the Padres since his brother’s death.
The deal won’t become official until it receives league approval. Last month, it was revealed that the Padres were worth $3.9 billion. Although the sale price was not specified in the announcement, given the amount, 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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San Diego Padres’ Manny Machado, left, acknowledges the crowd after hitting a single, his first career hit of 2000, 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 have not been named. In a joint statement, Jones and Feliciano are “unifying forces” in San Diego and are committed to building on the foundation of the franchise.
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“The Padres are more than a baseball team; they are a unifying force in San Diego, rooted in community, connection and belonging. As partners in life and business, and as a family, we are honored to lead this next chapter together. We have worked hard for everything we have achieved, and we have built it together. We see that same spirit in this team and in its fans, and we know what it takes to show the trust of this foundation while listening and obeying this strong foundation. It was founded by a family from Seidler.”
The team added that its commitment includes success on the field and meaningful social impact.
A general view of Petco Park during a 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)
“This is more than baseball – it’s about developing the pride, energy, and connection that defines the Padres, investing in the community, deepening ownership and ensuring this team remains accessible and enduring for generations to come. 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 quickly endeared himself to San Diego fans with his ruthless financial support of general manager AJ Preller.
The Padres have been the hot ticket for several years as San Diego’s only team in the major North American sports leagues, ranking second in MLB attendance 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 good start, sitting in second place in the NL West at 19-13 heading into Sunday afternoon’s finale of a three-game series against the Chicago White Sox. This team has made the playoffs in four of the last six seasons.
Feliciano is on track to become the second Latino owner in baseball, joining Los Angeles Angels owner Arte Moreno.
The Associated Press contributed to this report.
