Padres' John Seidler Addresses Franchise Sale, A.J. Preller Extension in Rare Media Appearance

[Steve Drumwright]

While addressing the contract extension for president of baseball operations A.J. Preller on Monday, San Diego Padres owner Peter Seidler was asked about the status of the sale of the MLB team.

"We’ve had tremendous interest,” Seidler said at the team's spring training complex in Peoria, Ariz. “There has been interest, some parties that have been reported in the press, others have not. There are more parties interested than has been reported."

The Seidler family announced it was pursuing a sale in mid-November, but some family quarrels prevented that from truly progressing. That was resolved a couple weeks ago, with the team expecting to start receiving bids by the end of the month.

BDT & MSD Partners, a merchant bank, is acting as the advisor to the Padres during the sale process. The Seidlers are seeking nearly $3 billion for the Padres. The record for an MLB team is Steve Cohen's $2.42 billion purchase of the New York Mets in 2020.

Seidler said he prefers the new owner has ties to San Diego and that the process "over the next few months will come to a logical conclusion." That likely means new ownership would be up for approval late in the season or early next offseason, though the impending MLB lockout could alter that timeline.

Regarding Preller, Seidler said it was key to keep building on the success the team has had in recent seasons.

"What was important about getting the deal done is A,J. has been the architect of the team," Seidler said. "Without A.J.'s roster-building over the duration, we wouldn't be where we are today."

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