San Diego – The owners of Major League Baseball voted unanimously on Monday to approve the sale of the San Diego Padres to an investor group headed by private‑equity billionaire José E. Feliciano and his wife and business partner, Kwanza Jones. The agreement, reached in May, values the franchise at a historic $3.9 billion.
Local significance and leadership outlook
Commissioner Rob Manfred praised the new owners, noting that “José and Kwanza understand the unique place the Padres hold in San Diego and the powerful bond between the club and its fans.” He added that MLB looks forward to their leadership in a market that is vital to the league’s overall health.
Felician, a 53‑year‑old co‑founder of Santa Monica‑based private‑equity firm Clearlake Capital, emerged as the top choice of the late Peter Seidler’s family after a competitive process. Jones, a former professional athlete and entrepreneur, will serve alongside him as principal owners.
Continuity for the team
Padres CEO Erik Greupner and General Manager A.J. Preller will remain in charge of day‑to‑day operations, and manager Craig Stammen said the ownership change will not affect on‑field focus. “We’ve got to go out here and play the games, just like we have all season long,” Stammen told reporters in New York before the team’s series opener against the Mets.
Both Felician and Jones emphasized a “family‑first” approach, stating, “We are grateful to the Seidler family, 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.”
Financial backdrop and fan base
Under Peter Seidler, who assumed majority control in 2020, the Padres dramatically increased payroll, enabling General Manager Preller to assemble a roster that has made four playoff appearances in the past six seasons and posted at least 89 wins in three of the last four years. The club entered the latest season in a National League wild‑card position, having won 17 of its last 22 games.
Petco Park, located in downtown San Diego, continues to rank among the league’s most lively ballparks and was second in overall attendance last season. The franchise remains a valuable asset, being the only major‑league team in a metropolitan area of roughly 3.3 million people.
Minority partners and broader sports context
The new ownership group includes Joey and Jesse Buss, sons of former Los Angeles Lakers owner Jerry Buss. Their involvement coincides with the Buss siblings’ decision to sell their remaining minority stake in the Lakers to incoming majority owners Josh Kushner and Bob Iger.
Felician, born in Puerto Rico, becomes the second Latino principal owner in Major League Baseball, joining Los Angeles Angels owner Arte Moreno. Latino and Hispanic players now comprise about 30 % of major‑league rosters.
Upcoming introduction
Felician and Jones will hold an introductory news conference at Petco Park on Monday, Aug. 24, where they plan to outline their vision for the franchise and engage with the passionate San Diego fan base.
Original reporting: KSAT Sports (San Antonio) — read the source article.
