San Diego Padres sale approved by MLB owners

Major League Baseball and its owners have unanimously approved the sale of the San Diego Padres to an ownership group led by investors Jose E. Feliciano and Kwanza Jones, the league announced on Monday.

The approval remains subject to the completion of the transaction, which MLB expects to take place in the coming weeks.

The Padres announced in May that they had reached a definitive agreement to transfer control of the franchise to the group led by Feliciano and Jones, his wife.

The pair reportedly submitted a winning bid of $3.9 billion, which would set an MLB record for the purchase of a franchise.

Feliciano, founder of Clearlake Capital and a part-owner of English football club Chelsea, has been designated as the Padres' control person.

"We are grateful to the Seidler family, and especially to Peter, for raising the expectations of what this franchise can achieve," Feliciano and Jones said.

“We have built our life and our work together, and we will bring that same shared purpose, commitment, and determination to our stewardship of the Padres.”

The Padres will continue to be run day-to-day by chief executive Erik Greupner and president of baseball operations and general manager A.J. Preller.

Longtime owner Peter Seidler died in 2023, after which his family became divided over control of the franchise. A sale process was launched in November 2025, with Feliciano and Jones among the bidders.

It is pertinent to mention that the MLB Commissioner Rob Manfred thanked the Seidler family for its stewardship and welcomed the new owners.