Padres finalizing sale for MLB record $3.9 billion: José E. Feliciano to buy franchise, per report

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The San Diego Padres are close to being sold to José E. Feliciano, Clearlake Capital co-founder and part of the Chelsea FC ownership group, and his wife Kwanza Jones for an MLB-record price of $3.9 billion, the Wall Street Journal reports. The deal is expected to be announced in the coming days.

Others in the final round of bidding to purchase the Padres included groups helmed by Dan Friedkin, owner of the English Premier League club Everton; Tom Gores, owner of the NBA's Detroit Pistons; and Joe Lacob, owner of the NBA's Golden State Warriors; the Athletic reports. According to the Journal, Feliciano's net worth is the same as the sale price -- $3.9 billion.

If finalized, the purchase would complete a process that began in earnest last November, when John Seidler and rest of the Padres ownership group announced plans to sell the franchise. The Padres' ownership situation has been uncertain since the death of beloved owner Peter Seidler in November of 2023. Following Peter Seidler's passing, infighting and lawsuits plagued the leadership transition.

If indeed the reported $3.9 billion sale price comes to pass, it would by a large margin be the largest sales price of a franchise in MLB history. The current record belongs to the New York Mets and the $2.4 billion that current owner Steve Cohen paid for the club in 2020. In March of this year, Forbes valuated the Padres at $3.1 billion. The group of which Peter Seidler was originally part of purchased the club for $800 million in 2012.