Padres control transfers to José E. Feliciano and Kwanza Jones group
Updated
Updated · The San Diego Union-Tribune · May 2
Padres control transfers to José E. Feliciano and Kwanza Jones group
12 articles · Updated · The San Diego Union-Tribune · May 2
The MLB-record deal values San Diego's team at $3.9 billion, with Feliciano and Jones expected to hold about 40% pending owners' approval in June.
Feliciano will be the control person, while the couple say they will run the club together; CEO Erik Greupner and several current investors, including Alfredo Harp Helú, are staying.
The sale follows Peter Seidler's death, trust disputes and the family's decision to explore a sale, while new investors including the Sycuan Band of the Kumeyaay Nation are still being finalised.
With a massive investment to protect, will the Padres' new owners become key allies in the push for a contentious MLB salary cap?
Will the Padres' record $3.9B sale lead to a fan-favorite spending spree or a new era of private equity-driven austerity?