Padres' Sale Remains On Track, Could Be Completed In August

[Steve Drumwright]

While the process has taken longer than many on the outside thought, the sale of the San Diego Padres will happen.

That is according to MLB Commissioner Rob Manfred, who held court prior to Tuesday's All-Star Game and was asked about the record $3.9 billion purchase by Jose E. Felciano and Kwanza Jones.

“It’s a question of getting investment commitments, documentation to be put in a condition that it’s ready for a club vote,” Manfred said, according to the San Diego Union-Tribune.

News of the sale agreement broke in mid-April, with the Seidler family negotiating the richest sale in MLB history, surpassing the $2.4 billion that Steve Cohen paid for the New York Mets in 2020. Cohen, one of the richest people in the world, acquired 95% control of the team.

Feliciano and Jones are said to be purchasing a 45% stake in the Padres, with several other people, groups and entities piecing together the remaining 55%. That is where it seems things have slowed down. That and the sale news becoming public earlier in the process than what is typical.

“When people in the public become aware of the sale — this one was earlier, quicker than what sometimes happens,” Manfred said. “Usually, it gets public when it’s a little closer to final documents. But (the sale) will get done.”

There was an owners meeting in June where a vote could have taken place. Now, it seems like the approval will happen in August at the next owners meeting. A vote to approve new ownership requires 22 of the other 29 teams.

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