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San Diego Padres Nearing Deal to be Sold for an MLB-Record $3.9 Billion: WSJ
The sale would set an MLB record, topping Steve Cohen’s $2.4 billion purchase of the New York Mets, sources said.
- On Friday, the Seidler family neared a $3.9 billion sale of the San Diego Padres to private-equity investor José E. Feliciano and Kwanza Jones, setting a record valuation for any Major League Baseball franchise.
- The deal surpasses the $2.4 billion record set by Steve Cohen's 2020 purchase of the New York Mets, with Feliciano outbidding competing groups led by Joe Lacob, Dan Friedkin, and Tom Gores.
- Any sale requires approval from 75% of MLB owners, while the City of San Diego must approve the 30% stake in Petco Park included in the acquisition; sports attorney Corey Martin notes the process involves rigorous vetting to ensure alignment.
- With the Padres currently 13-6, the transition could impact the August 3 MLB Trade Deadline; incumbent owners hold final authority, though they must engage in "meaningful consultation" with Feliciano and Jones regarding roster decisions.
- Clearlake Capital manages more than $90 billion in assets, and ownership changes may shift the Padres' financial priorities regarding payroll and facilities; the franchise is currently riding an eight-game winning streak.
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17 Articles
Coverage Details
Total News Sources17
Leaning Left6Leaning Right2Center4Last UpdatedBias Distribution50% Left
Bias Distribution
- 50% of the sources lean Left
50% Left
L 50%
C 33%
R 17%
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