Seidler Family Announces Sale Agreement With Jose E. Feliciano And Kwanza Jones

[Steve Drumwright]

 

The San Diego Padres are closer to no longer being under the control of the Seidler family, which announced an agreement Saturday to sell the MLB franchise to Jose E. Feliciano and Kwanza Jones.

The deal is subject to MLB approval. The announcement comes 16 days after initial reports of the sale first surfaced. The sale price is expected to be $3.9 billion, which smashes the previous record for an MLB franchise of $2.42 billion, the amount Steve Cohen paid in 2020 for the New York Mets.

“I’m thrilled that after a highly competitive process, Kwanza Jones and José E. Feliciano will become the next majority owners of the Padres,” Padres chairman John Seidler said in a released statement. “When I became control person, my goal was to continue building on our recent success in pursuit of a World Series Championship for the city of San Diego and our faithful fans. Now, as I pass the baton to Kwanza and José, I do so with full confidence that they share that vision, as well as the Padres deep commitment to San Diego. It’s what the team, our fans, and the community deserve.

“Our family loves this team. This is a bittersweet moment for us as we reflect on what the Padres have accomplished since my brother Peter became the steward of the franchise. I congratulate Kwanza, José, and the Padres, and wish them nothing but success. We look forward to a smooth transition.”

Feliciano and Jones issued a joint statement:

“The Padres are more than a baseball team; they are a unifying force in San Diego, rooted in community, connection, and belonging. As life and business partners, and as a family, we are honored to lead this next chapter together.

“We have worked hard for everything we have achieved, and we have built it together. We see that same spirit in this team and its fans, and we know what it takes to win.

“We are committed to showing up, listening, and earning the trust of this community, while building on the strong foundation established by the Seidler family.

“This is about more than baseball — it’s about boosting the pride, energy, and connection that define the Padres, investing in community, deepening belonging, and ensuring this team remains accessible and endures for generations. We are all in — with the goal of bringing a World Series championship to San Diego.”

Forbes recently valued the Padres at $3.1 billion, a 39% increase from the same time last year.

The Padres were sold to a group led by Peter Seidler and Ron Fowler in 2012 for $800 million. That included $200 million in debt that previous owner John Moores had accrued in a recent local-TV deal.

The trust of the late Peter Seidler held a 24% share of the Padres and other members of the family held a combined 25% share, according to the San Diego Union-Tribune. John Seidler, one of Peter's brothers, became the control person early in 2025. Peter Seidler died in November 2024. He had survived two battles with non-Hodgkins lymphoma and had just had a procedure that September.

Feliciano, who is expected to be the control person, and Jones are expected to purchase up to 40% of the team, which a group of other investors. Those minority investors are reportedly to include Alfredo Harp Helu, who had a 20% share of the team under the Seidler family. Other reported partners include the Sycuan Band of the Kumeyaay Nation and another group involving former San Diego Chargers quarterback Drew Breese and Vuori founder Joe Kudla. Sycuan, which operates a casino in San Diego, must undergo further scrutiny if it owns a certain percentage of the team.

The 53-year-old Feliciano has an estimated net worth of $3.9 million, according to Forbes.

Born in Bayaman, Puerto Rico, the 53-year-old Feliciano attended Princeton and earned his masters of business administration at Stanford. Clearlake, with headquarters in Santa Monica, was founded in 2006 by Feliciano and Behdad Eghbali. The company is the 12th-largest private-equity firm in the world, having managed more than $45 billion in capital, as of June.

In 2022, Feliciano and Clearlake were part of the group that purchased the men’s soccer team Chelsea of the English Premier League.

The next step in the sale is for Feliciano and Jones to be vetted by MLB, then go up for a vote of the other 29 owners. The new group must be approved by 75% of the owners (23 votes). For ceremonious reasons, that vote is traditionally unanimous. That vote could take place soon. The next owners meeting is scheduled for June.

 

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