Seidler Family Makes Huge Announcement Regarding Padres' Future

San Diego Padres owner Peter Seidler celebrates defeating the Los Angeles Dodgers during game four of the NLDS for the 2022 MLB Playoffs at Petco Park on Oct. 15, 2022. | Orlando Ramirez-Imagn Images

The ownership of the San Diego Padres stabilized under the late Peter Seidler, with the franchise enjoying its greatest decade of success when Ron Fowler sold his majority share of the team to Seidler in 2020.

Three years later, Seidler died, leaving ownership of the team to a family trust helmed by his brother, John.

More news: Padres Choose Former Pitcher as New Manager in a Surprising First-Time Hire

Thursday, the Seidlers revealed they might relinquish control of the franchise.

"The family has decided to begin a process of evaluating our future with the Padres, including a potential sale of the franchise," team chairman John Seidler said in a statement. "We will undertake this process with integrity and professionalism in a way that honors Peter’s legacy and love for the Padres and lays the foundation for the franchise’s long-term success. During the process and as we prepare for the 2026 season, the Padres will continue to focus on its players, employees, fans, and community while putting every resource into winning a World Series championship. We remain fully committed to this team, its fans, and the San Diego community.”

In 2019, the last year of Fowler's ownership tenure, the Padres ranked 23rd in Major League Baseball with a $104 million payroll. The team had never paid a penalty under MLB's competitive balance tax structure.

But by the end of the pandemic-shortened 2020 season, the Padres' payroll ranked sixth in MLB. The Padres have placed in the Top 10 in all but one year-end ranking since — a dramatic departure in the history of a team that plays in one of the country's smaller media markets.

Under the Seidlers, the Padres have paid luxury taxes each of the last four years. This year the Associated Press estimated the Padres will owe another $6.9 million in luxury taxes.

Any change to the team's ownership structure invites the possibility that the Padres' payroll will hew closer to the team's market size. Even a potential sale has, in the past, prompted teams to trim costs in advance of a transfer of ownership.

More news: Padres Make Big Decision on Michael King, Dylan Cease Ahead of Free Agency

The Padres have several star players under long-term contract, a rarity for a team whose history has been marked by inconsistency and mediocrity.

Fernando Tatis Jr. and Jackson Merrill are signed through 2034. Xander Bogaerts and Manny Machado are signed through 2033. That's a source of excitement for the Padres' fan base, who routinely sold out Petco Park and finished second (behind only the Los Angeles Dodgers) in average attendance in 2025.

To a potential new owner looking to rein in costs, those contracts could represent an albatross. Meanwhile, the long-term future of the Padres' media rights remains in limbo.

Commissioner Rob Manfred has repeatedly expressed an interest in restructuring baseball's Regional Sports Network model by 2028. Since May 2023, the Padres’ local broadcasts have been produced and distributed by MLB (via its local media operations) after ceasing ties with its former RSN, Diamond Sports Group.

The Padres currently offer a direct-to-consumer in-market subscription via what is branded as Padres TV. Fans in the San Diego area can also watch via traditional providers (such as DirecTV, AT&T U-Verse, Cox, Spectrum). Absent a long-term solution, and a clearer media-rights revenue picture, it's unclear how a new owner would value the franchise.

In the past year, a couple relevant comparisons have emerged. The Tampa Bay Rays sold for a reported $1.7 billion in July. The Minnesota Twins were looking for a $1.7 billion valuation when the Pohlad family explored a sale, but ultimately could not find a taker — in part, perhaps, because of a nearly half-billion debt reported by The Athletic.

Per the team's press release, the Padres have engaged BDT & MSD Partners, a trusted advisor to families and founder-led businesses, to guide the exploration of a sale. "The firm will oversee the process to ensure that it is conducted in a disciplined and professional manner," the team announced.

For more Padres news, head over to Padres on SI.