The San Diego Padres have reached an agreement to sell the franchise to an investor group led by Kwanza Jones and private equity billionaire José E. Feliciano, the family of late owner Peter Seidler announced Saturday. The deal, structured at an MLB-record valuation of $3.9 billion, still requires approval from Major League Baseball before it is finalized.
Jones and Feliciano, who are life and business partners, framed the acquisition as a long-term commitment to San Diego. “The Padres are more than a baseball team; they are a unifying force in San Diego, rooted in community, connection and belonging,” the pair said in a joint statement. “We are all in, with the goal of bringing a World Series championship to San Diego.”
The Seidler family began exploring a sale last November, two years after the death of Peter Seidler, who became the Padres’ primary owner in 2020 and built a strong following among fans through his aggressive financial backing of general manager A.J. Preller. Under Seidler’s ownership, the Padres reached the playoffs in four of the past six seasons. His brother John Seidler has served as chairman since Peter’s death and said he is passing the organization to the new owners with full confidence they share the team’s vision and commitment to San Diego.
Peter Seidler originally joined the Padres’ ownership group in 2012 when John Moores sold the team for $800 million. The franchise has since become one of baseball’s stronger draws, ranking second in the majors in attendance last season as San Diego’s only team across the four major North American sports leagues. The current roster is off to a 19-12 start this season, sitting second in the NL West.
Jones and Feliciano got an early look at their prospective investment last month when they traveled to Mexico City to attend the Padres’ international series against the Arizona Diamondbacks, where they were seen alongside Padres CEO Erik Greupner.
