A married investment team has struck a deal to purchase the San Diego Padres baseball franchise for a record-breaking $3.9 billion, the Seidler family announced Saturday.
Kwanza Jones and José E. Feliciano will lead the ownership group taking control of the Major League Baseball team, pending league approval of the transaction.
The Seidler family, who inherited the team following Peter Seidler’s passing two years ago, made the formal announcement of the agreement. The deal represents the highest valuation ever recorded for an MLB franchise purchase, though specific financial terms and investor group details were not disclosed in Saturday’s announcement.
“The Padres are more than a baseball team; they are a unifying force in San Diego, rooted in community, connection and belonging,” Jones and Feliciano said in a joint statement. “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.”
The couple added: “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.”
The Seidler family initiated discussions about selling the franchise last November, following Peter Seidler’s death in 2022. Peter Seidler had taken primary ownership of the team in 2020, with his brother John assuming leadership responsibilities after his passing.
“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,” John Seidler said in a statement. “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.”
Peter Seidler initially became part of the Padres ownership when John Moores sold the franchise in 2012 for $800 million to Ron Fowler’s investment group. After taking control, Seidler gained fan support through his willingness to invest heavily in the team, supporting general manager A.J. Preller’s efforts to build a competitive roster that has made four playoff appearances in six seasons.
The franchise has become increasingly popular in recent years as San Diego’s sole representative among major North American professional sports leagues, finishing second in MLB attendance rankings last season. Under Preller’s management, the team has started this season strongly with a 19-12 record, placing second in the National League West division ahead of Saturday night’s home game against the Chicago White Sox.
The prospective new owners have already begun engaging with the organization, attending the Padres’ Mexico City series against the Arizona Diamondbacks last month, where they were seen with team CEO Erik Greupner.
When the sale is finalized, Feliciano will become only the second Latino owner in Major League Baseball, joining Los Angeles Angels owner Arte Moreno. Latino and Hispanic athletes represent approximately 30% of current major league players.
