New Ownership Group Led by Jose E. Feliciano and Kwanza Jones Approved to Purchase San Diego Padres
Major League Baseball owners have given their overwhelming approval for the sale of the San Diego Padres to a new ownership group led by Jose E. Feliciano and Kwanza Jones. The $3.9 billion sale marks a significant milestone for the team, with the new owners set to take over operational control by the end of the week. Feliciano, a co-founder of Clearlake Capital, and Jones emerged victorious in a bidding war in April, beating out three other finalists for the opportunity to purchase the team from the Seidler family. The sale was subject to a vetting process by a committee of current league owners, who recently signed off on the deal before it was unanimously approved by the other 29 owners.
In a statement, Jones and Feliciano expressed their excitement about joining the Padres family and their commitment to building on the franchise's success. They emphasized their goal of bringing a World Series championship to San Diego and creating a culture of excellence and innovation within the organization. The new owners plan to work closely with the existing team and invest in the Padres' future, while also deepening their connection with the San Diego community.
Despite initial concerns that the Padres could be relocated under new ownership, Jones and Feliciano have reassured fans that their focus is on building a winning team in San Diego. The franchise will continue to be led by CEO Erik Greupner and President of Baseball Operations A.J. Preller, both of whom recently signed contract extensions. The sale includes a 30% ownership stake in Petco Park, which is subject to approval by the City of San Diego. Once finalized, the new owners will hold a press conference to introduce themselves to the Friar Faithful and outline their vision for the future of the team.