Report: Padres' sale down to three, new buyer to be picked next week

Wednesday June 13th, 2012

Ken Rosenthal of reports that three bidders remain in the running to buy the San Diego Padres, and a source close to the sales process says that owner John Moores expects to select a buyer by the end of next week.

One of the groups is headed by former Los Angeles Dodgers owner Peter O'Malley, and the other two are also backed by Southern California natives.

Rosenthal's source said the sale price is expected to be in the neighborhood of $800 million -- $600 million for the club and $200 million for a portion of the team's share of Fox Sports San Diego. The source also said that if Moores follows through on his timetable, a purchase agreement could be in place by the All-Star break and the deal could close by August.

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