Chelsea Co-Owner Closes on ‘Record-Shattering’ MLB Purchase

Todd Boehly won’t be the only Chelsea co-owner to have a stake in Major League Baseball anymore.

José E. Feliciano is the managing partner of Clearlake Capital, Chelsea’s majority owners. | Michael Nagle/Bloomberg/Getty Images

Chelsea co-owner José E. Feliciano is reportedly nearing an agreement to purchase the San Diego Padres for a reported $3.9 million—the most expensive sale of a Major League Baseball franchise in history.

Feliciano was part of the group that took over Chelsea from Roman Abramovich in 2022. The Puerto Rico-born businessman co-founded Clearlake Capital alongside Behdad Eghbali, a global investment firm that led the consortium that bought Chelsea for $5.24 billion four years ago.

Clearlake Capital have since been the majority owners of Chelsea with a 61.85% share of the Premier League giants. Alongside minority owners Todd Boehly, Mark Walter and Hansjörg Wyss, Clearlake founded the BlueCo ownership group that includes Ligue 1 side Strasbourg.

Now, The Athletic report Feliciano, alongside his wife Kwanza Jones, have a deal in place to become owners of the Padres for a fee that shatters the previous record for the purchase of a MLB franchise previously set by billionaire Steve Cohen when he bought the New York Mets for $2.42 billion in 2020.

An official announcement is expected next week, but Padres players—including superstar third-baseman Manny Machado—revealed he’s already had some talks with the incoming ownership group and that he’s “looking forward to meeting them.”

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Feliciano Joins Premier League Owners With U.S. Sports Ties

Arsenal owner Stan Kronke also owns the Los Angeles Rams NFL Franchise. | Frederic J. Brown/AFP/Getty Images

Feliciano now joins the growing list of Premier League owners that also have stakes on franchises across the biggest U.S. sports’ leagues. In fact, Feliciano and Jones reportedly outbid three other groups to buy the Padres, including one led by Everton owner Dan Friedkin.

An influx of U.S. influence has arrived in the Premier League over the past two decades in the form of ownership groups. Now, 11 teams participating in the 2025–26 Premier League season are backed by majority American ownership.

Of the Premier League’s so called “big six,” only Manchester City and Tottenham Hotspur aren’t led by U.S. owners. The Glazer family, who also own the Tampa Bay Buccaneers NFL franchise, started the trend when they took over Manchester United in 2005.

Arsenal owner Stan Kronke also owns MLB, NHL, MLS and NHL franchises. Liverpool’s Fenway Sports Group own the Boston Red Sox and NHL’s Pittsburgh Penguins, while Leeds United are overseen by the San Francisco 49ers ownership group. Then there’s New York Jets owner Woody Johnson, who has the controlling stake in Crystal Palace. Bournemouth and Fulham’s majority owners are also in charge of the Las Vegas Golden Knights and the Jacksonville Jaguars respectively.

But even within BlueCo, Feliciano will become the second prominent figure to hold a stake in an MLB franchise, setting up an interesting dynamic with the face of Chelsea’s ownership group: Boehly.

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Feliciano and Boehly on Different Sides of Bitter Rivalry

A rivalry is brewing between Chelsea co-owners José Feliciano (third from left to right) and Todd Boehly (middle). | Darren Walsh/Chelsea FC/Getty Images

Boehly has owned 20% of reigning back-to-back MLB champions Los Angeles Dodgers since 2012—he also owns a minority stake in the Los Angeles Lakers. The Dodgers have won three World Series titles since the start of the decade, twice eliminating the Padres on the road to glory.

Feliciano will take over the Padres and immediately immerse himself into the most rapidly growing rivalry in all of MLB against Boehly’s Dodgers. The two divisional foes have delivered some of the most thrilling playoff series in recent memory.

Furthermore, San Diego and Los Angeles boast two of the strongest rosters in the sport, headlined by some of the biggest stars in MLB.

Feliciano and Boehly might be on the same side in their effort to guide Chelsea back to the top of the Premier League. But on the MLB diamond, the pair of Chelsea co-owners will be on opposite sides of a flammable rivalry.

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