San Diego, Calif. — August 7, 2026
The sale of the San Diego Padres to private equity billionaire José E. Feliciano and his wife, Kwanza Jones, is nearing its final step after MLB’s owners’ management council gave initial approval to the record $3.9 billion transaction earlier this week. The full body of MLB owners — 22 of the remaining 29 team owners must sign off — is expected to vote later this month.
John Seidler, the team’s control person representing the family that has owned the Padres since 2012, told Times of San Diego this week that he expects the sale to close sometime this month, with the final vote to be conducted by call or electronically among owners.
The $3.9 billion price shatters the previous MLB sale record of $2.42 billion, set when Steve Cohen bought the New York Mets in 2020. Feliciano and Jones beat out competing bids from Dan Friedkin and Golden State Warriors owner Joe Lacob in a process that saw multiple offers surpass $3.5 billion. Feliciano, who co-founded Clearlake Capital Group in 2006, will hold a controlling interest in the club in the $1.7 billion range; Clearlake also holds a majority stake in England’s Chelsea FC.
The transition follows a contentious stretch for Padres ownership. The sale process began last November amid a legal dispute among relatives of the late owner Peter Seidler, who died in 2023 — his widow, Sheel Kamal Seidler, sued his brothers in Texas probate court over how they managed the trust holding the team’s controlling stake.
Notably, the ownership change has not slowed the club’s competitive ambitions. With the sale still technically pending, president of baseball operations A.J. Preller added two proven starting pitchers, Robbie Ray and Casey Mize, ahead of the Aug. 3 trade deadline — a roughly $6 million payroll addition that Feliciano and Jones were reportedly aware of and did not block.
Feliciano and Jones will inherit a third-place Padres team currently 59-56, chasing a National League Wild Card spot as the season enters its final stretch. Once the sale closes, the new ownership group faces early decisions on Preller’s long-term future, offseason spending, and continued investment in Petco Park and the surrounding fan experience — questions San Diego’s business and civic community will be watching closely.