The lawsuit brought by Peter Seidler’s widow against her late husband’s brothers over management of his trust has been settled, ending a chapter in the battle between Sheel Seidler and the family and clearing an obstacle to the potential sale of the Padres.
A filing in Travis County (Texas) court dated Monday said a resolution between the parties had caused Sheel Seidler to nonsuit all claims in her original lawsuit filed in January 2025 except her claims of breach of duty to distribute and demand for accounting.
In her lawsuit, Sheel Seidler accused Matthew and Robert Seidler, as successor trustees of Peter Seidler’s trust, of withholding income she was owed.
Sheel Seidler also claimed in her suit that she was the rightful control person of the Padres and contested the naming of John Seidler, Peter’s eldest brother, as trustee. John Seidler’s elevation had occurred in December 2024, and Major League Baseball owners approved him as the team’s control person in February ‘25.
An attorney for the Seidler brothers declined comment on Wednesday, and representatives for Sheel Seidler did not immediately respond to a request for comment.
In November, the Seidler family announced it was exploring a sale of the team.
As the Seidler family explores a sale, the Padres are considered ‘beachfront real estate’
MLB does not expressly prohibit the sale of a franchise involved in litigation, but multiple sources predicted that a resolution would precede any such transaction.
Team and league executives are in the process of presenting the team’s financials to prospective buyers.
Joe Lacob, the principal owner of the NBA’s Golden State Warriors, is the only publicly known suitor. Lacob met with Padres officials in San Diego last week. Two league sources said the group he heads is the leading suitor. Others involved in the process characterized that as not accurate.
While Forbes valued the Padres at $1.95 billion last March, those valuations are generally considered low. In November, multiple sources with knowledge of recent team sales placed the Padres’ value at more than $2.5 billion, based on recent sales that have resulted in teams fetching 5.5 times their annual revenue.
Timeline: A look at the Seidler family’s stewardship of the Padres
Approximately a dozen people or entities make up the Padres’ current ownership group.
Sheel Seidler and her three minor children are the “beneficial owners” of 24% of the team, which makes them the single largest shareholder.
The Seidler family, including Peter Seidler’s mother, Therese, who died in December, his siblings and other relatives, collectively controls another 20% of the team. The remaining portion of the ownership is split between eight to 10 other separate stakeholders.
This article will be updated.