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Major League Baseball has officially approved the sale of the San Diego Padres, marking a historic moment in sports transactions. The Padres have been sold to private equity billionaire José E. Feliciano and his wife, Kwanza Jones, for a record-breaking $3.9 billion. This sale surpasses the previous record set by the New York Mets, sold for $2.4 billion in 2020.
The sale was unanimously approved by MLB owners, and it reflects the Padres' recent success and commitment to winning. The team, which had one of the top payrolls in MLB, has seen a surge in fan attendance, ranking second only to the Los Angeles Dodgers in 2026. The Padres' valuation has increased nearly fivefold since 2012 when a Ron Fowler-led group acquired the team for $800 million.
The Feliciano family now holds the largest share of the team, while some members of the Seidler family, who owned the Padres before, will remain as minority owners. The sale comes less than three years after the passing of Peter Seidler, who was instrumental in transforming the Padres into a competitive team. Seidler's vision and investment in star players like Manny Machado and Fernando Tatis Jr. helped elevate the team's profile and performance.
The new ownership aims to continue the Padres' trajectory as a playoff contender and maintain the strong fan support at Petco Park. The sale is expected to bring new opportunities and challenges as the team looks to sustain its success and manage its high payroll.
For more details, visit the MLB Players Association and ESPN.