Padres fans should be excited, but cautious at the same time.
An agreement has been reached by the San Diego Padres to sell the franchise to an investor group that is led by José E. Feliciano and Kwanza Jones.
The deal was announced Saturday by the family of late owner Peter Seidler. Major League Baseball still needs to approve the sale. (RELATED: Oilers’ Connor McDavid Says Edmonton ‘Has Taken A Step Back’ Following First-Round Elimination From Playoffs)
Private equity billionaire Feliciano and his wife Jones began organizing the deal in April at a $3.9 billion valuation, a record number for an MLB team. The announcement from the Padres didn’t specify all of the investor group’s members nor the price of the sale, however, ESPN reports, citing sources, that it’s anticipated that Feliciano and Jones will have around a 40% equity stake in the organization. A percentage of equity stake will remain with the Seidler family.
“This is about more than baseball — it’s about boosting the pride, energy, and connection that define the Padres, investing in community, deepening belonging and ensuring this team remains accessible and endures for generations,” said Feliciano and Jones in a joint statement. “We are all in — with the goal of bringing a World Series championship to San Diego.”
Padres announce the Seidler Family has entered into a definitive agreement for transfer of control of the franchise to a new ownership group led by investors and philanthropic leaders, Kwanza Jones and José E. Feliciano, subject to approval by MLB & customary closing conditions. pic.twitter.com/0xygCMEL2g
— Sammy Levitt (@SammyLev) May 2, 2026
“Cautiously optimistic” is what I would be as a Padres fan, and that stems from my fandom of Chelsea FC in the English Premier League.
Feliciano is a co-founder and the managing partner of Clearlake Capital, who owns the Blues. When it comes to spending, our ownership is grade-A, but we’re like the New York Mets, things just never work out completely how they’re supposed to. Take this season, for example, and how we’re sitting ninth in the EPL. And how we can’t keep a manager to save our lives. The unlimited bankroll hasn’t been working.
I don’t want to get too much into a Chelsea rant, but my point is, Padres fans, is to manage your expectations. Money isn’t everything here.