Padres Sale Accelerates as Seidler Lawsuit Ends and Buyers Emerge

It has been a whirlwind 24 hours for the San Diego Padres, as the sale of the team has taken a step forward on multiple fronts. As a refresher, the decision to sell the franchise was announced in November and stems from the passing of former owner Peter Seidler in 2023.

Since then, Seidler’s brothers have assumed control of the team while also dealing with a serious lawsuit filed by Seidler’s wife, Sheel Seidler. She initially accused brothers Matt and Bob Seidler of breaching their fiduciary duty by failing to distribute trust assets to her and failing to disclose their actions as trustees.

While the lawsuit did not explicitly mention the Padres, it was widely understood that Sheel would be the sole beneficiary of the Padres trust - something that ultimately did not happen.

A court filing Monday showed Sheel Seidler, widow of late San Diego Padres owner Peter Seidler, has dropped the bulk of her claims against his brothers Matt and Bob Seidler.

Via @TheAthletic | https://t.co/AtgDTd5khe pic.twitter.com/2phDivEQbN
— Sports Business Journal (@SBJ) February 4, 2026

However, most of the claims against the brothers have now been dismissed, as Matt, Bob and Sheel have agreed to resolve the matter outside of court. Sheel’s decision to withdraw the lawsuit filed in Texas last month does not signal a family reconciliation, but rather a rapidly advancing sale of the franchise.

Despite the aggressive internal dispute over control of the Padres, the team is moving toward a sale, rendering the court case an unnecessary obstacle that would complicate the process. With that legal issue removed, the sale can proceed smoothly as the Seidler family determines how to distribute the assets and proceeds. While their dispute has not been fully resolved, eliminating the legal uncertainty helps protect the franchise’s value and paves the way for a cleaner ownership transition.

On the sales front, bids are officially coming in as some of the wealthiest owners in sports vie for one of the most valuable franchises in Major League Baseball. The Padres are currently valued at $2.31 billion by Sportico, though the Seidler family is expected to seek a price well above that figure.

Steve Cohen’s $2.42 billion purchase of the New York Mets in 2020 remains the record for an MLB franchise, but the Padres could surpass - and potentially shatter - that mark.

With no legal barriers remaining and general manager A.J. Preller exercising restraint in avoiding expensive long-term contracts this offseason, the Padres are positioned to maximize their sale price. A new ownership group is guaranteed to bring significant financial resources, continuing the late Seidler’s commitment to aggressive spending.

The bidding war is being led by a pair of European soccer owners - an ownership demographic known for its willingness to invest heavily. Dan Friedkin, owner of Everton and AS Roma, is reportedly looking to expand into baseball, while Chelsea owner José Feliciano is also believed to be in the mix.

EXCLUSIVE: José E. Feliciano and Dan Friedkin, both billionaire owners of Premier League clubs, are interested in buying the San Diego Padres, according to multiple people familiar with the process.

With a labor fight looming for MLB and its players, many are viewing this sale…
— Sportico (@Sportico) February 4, 2026

Both would be welcomed additions given their global resources, though Friedkin is especially intriguing. His estimated net worth of $10 billion far exceeds Feliciano’s reported $3.9 billion, which would make Friedkin the third-richest owner in MLB behind Cohen and the Blue Jays’ ownership group.

With legal conflicts being resolved behind the scenes and serious bidders emerging, momentum is building quickly in San Diego. A new owner may not be in place by Opening Day, but the sooner the sale is finalized, the better - especially after what has been the Padres’ most difficult offseason since 2018.