Sold to Jose E. Feliciano & his wife Kwanza Jones.
You want a little optimism? A sliver of hope there won't be a work stoppage this winter?
Dreaming of actual labor peace in Major League Baseball?
Well, you can send thank you cards and flowers to 100 Park Blvd., San Diego CA, 92101.
This will be the new headquarters of José E. Feliciano and his wife Kwanza Jones, who are about to become the new owners of the San Diego Padres.
And they may have also saved baseball from self-destruction this winter.
Feliciano, co-founder and managing partner of Clearlake Capital, a private equity firm based in Santa Monica, won the high-stakes bidding war for the Padres for a cool $3.9 billion. It shattered the MLB record purchase price for a franchise, 62% more than New York Mets’ $2.4 billion sale in 2020, and the sixth-largest in North American Sports.
The deal sent shockwaves throughout baseball.
“That’s insane,” one executive said.
“I’m floored,’” said one owner.
“The math makes no sense,” said another.
“Most people in financial circles felt the value was worth $2.5 billion," another owner said, “at the most."
When you consider the franchise was considered to be worth $1.9 billion in 2025 by Forbes, and that Shohei Ohtani didn’t suddenly put on a Padres uniform, the real stars of their record sale may have been the Padres’ investment bankers.
hether it is stupid money, or it turns out to be a shrewd investment, only time will tell.
Yet, in the meantime, that staggering $3.9 billion just put a sledgehammer to the argument that the game isn’t prospering and needs an overhaul in the next collective bargaining agreement.
“I’m just glad," one executive said, “that I don’t have to be the guy to explain to the players association why this sale won’t matter in negotiations.”
Will the sale diminish MLB’s argument for a salary cap?
“How can it not?" one owner said.
This isn’t the Yankees, Dodgers or Mets being sold.
This is the Padres, who reside in the 30th-largest market in the country.
This is a team tucked into a Southern California beach town with Los Angeles to the North, Mexico to the South, the desert to the East, and the Pacific Ocean to the West.
While the Dodgers have TV revenues averaging $334 million a year, the Padres, who lost their TV contract three years ago, are earning about $30 million, a massive $300 gulf.
You want a little optimism? A sliver of hope there won't be a work stoppage this winter?
Dreaming of actual labor peace in Major League Baseball?
Well, you can send thank you cards and flowers to 100 Park Blvd., San Diego CA, 92101.
This will be the new headquarters of José E. Feliciano and his wife Kwanza Jones, who are about to become the new owners of the San Diego Padres.
And they may have also saved baseball from self-destruction this winter.
Feliciano, co-founder and managing partner of Clearlake Capital, a private equity firm based in Santa Monica, won the high-stakes bidding war for the Padres for a cool $3.9 billion. It shattered the MLB record purchase price for a franchise, 62% more than New York Mets’ $2.4 billion sale in 2020, and the sixth-largest in North American Sports.
The deal sent shockwaves throughout baseball.
“That’s insane,” one executive said.
“I’m floored,’” said one owner.
“The math makes no sense,” said another.
“Most people in financial circles felt the value was worth $2.5 billion," another owner said, “at the most."
When you consider the franchise was considered to be worth $1.9 billion in 2025 by Forbes, and that Shohei Ohtani didn’t suddenly put on a Padres uniform, the real stars of their record sale may have been the Padres’ investment bankers.
hether it is stupid money, or it turns out to be a shrewd investment, only time will tell.
Yet, in the meantime, that staggering $3.9 billion just put a sledgehammer to the argument that the game isn’t prospering and needs an overhaul in the next collective bargaining agreement.
“I’m just glad," one executive said, “that I don’t have to be the guy to explain to the players association why this sale won’t matter in negotiations.”
Will the sale diminish MLB’s argument for a salary cap?
“How can it not?" one owner said.
This isn’t the Yankees, Dodgers or Mets being sold.
This is the Padres, who reside in the 30th-largest market in the country.
This is a team tucked into a Southern California beach town with Los Angeles to the North, Mexico to the South, the desert to the East, and the Pacific Ocean to the West.
While the Dodgers have TV revenues averaging $334 million a year, the Padres, who lost their TV contract three years ago, are earning about $30 million, a massive $300 gulf.
