Padres New Owners Break Silence on $3.9 Billion Sale, Make Commitment to San Diego

The San Diego Padres announced Saturday that the Seidler Family has entered into a definitive agreement for the transfer of control of the franchise to a new ownership group led by José E. Feliciano and Kwanza Jones.

Feliciano will serve as the official control person of the team, but he and Jones will be running the franchise together.

They released their first statement through the Padres during Saturday's announcement, affirming their commitment to the city of San Diego.

"We have worked hard for everything we have achieved, and we have built it together," the statement read. "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."

The Seidler family also released a statement, describing the sale as "bittersweet".

"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.

"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."

The Padres are being sold for an MLB-record $3.9 billion, with Feliciano and Jones expected to purchase around 40% of the franchise. According to the San Diego Union-Tribune, "their purchase of about 40% of the Padres is a 'personal investment' that is meant to be in their control for generations."

The Seidler family and Ron Fowler headed a group in 2012 that purchased the Padres for $800 million. This past November, about two years after the death of Peter Seidler, the Padres announced they were exploring a sale of the franchise.

Now, the Padres being sold for by far the most money in MLB history, surpassing the New York Mets' $2.4 billion sale in 2020.

The Padres announced the team "will continue to operate in the ordinary course throughout the MLB approval process. There will be no changes to day-to-day business operations as a result of today’s announcement."

Add us as a preferred source on Google